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US and UK sanction Prince Group over alleged scams and laundering

Enforcement & compliance

The United States and the United Kingdom sanctioned Cambodia’s Prince Group, its chairman Chen Zhi and affiliated entities over alleged online scams, money laundering and human trafficking. UK authorities said assets including a £12 million mansion and a £100 million office building were frozen; US prosecutors also filed a forfeiture complaint concerning 127,271 bitcoin. Chen was indicted in the US and remains at large.

The sanctions and asset freezes affect casino-linked entities and prohibit US and UK citizens from doing business with them.

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Enforcement & compliance

Cambodian authorities shut 91 casinos over alleged links to online scams

Cambodian authorities shut 91 casinos identified as operating scam activities or supporting online fraud networks, reportedly following government enforcement action. The government said more than 250 scamming facilities were closed during the nine months ending in December; authorities also reported deporting 13,039 foreign nationals. Cambodia’s law targeting online scams took effect on 6 April.

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