US and UK unleash biggest crackdown yet on Southeast Asia’s cybercrime empires

WASHINGTON/LONDON: In a bold and coordinated move, the United States and the United Kingdom have launched their largest joint operation yet against cybercriminal networks based in Southeast Asia. These groups, officials say, have scammed victims around the world—especially in the US—out of billions of dollars through elaborate online fraud schemes.

Central to this comprehensive quelling is the Prince Group, an all-powerful cybercrime group purportedly managed by a citizen from Cambodia, Chen Zhi. The organisation is allegedly running monolithic online investment swindling activities that span global boundaries.

On Tuesday, the US Treasury Department imposed sanctions on 146 individuals and entities tied to the group. The aim: to freeze their assets and disrupt their ability to operate.

At the same time, the Treasury’s Financial Crimes Enforcement Network (FinCEN) cut off the Huione Group, another Cambodian-based conglomerate, from the US financial system. Officials believe Huione has played a key role in laundering money for illegal online activities. The move effectively blocks the group from accessing international banking and finance—a major hit to their operations.

“The rise in online fraud has devastated countless Americans—some losing their entire life savings in minutes,” said US Treasury Secretary Scott Bessent. “This is just the beginning. We’re determined to break these networks apart with the help of our global allies.”

The UK is also stepping in, with its Foreign, Commonwealth & Development Office placing sanctions on Chen Zhi and his associates. Meanwhile, US lawyers in New York have filed criminal charges against Chen, stepping up the pressure level far beyond financial penalisation.

Government officials assess that fraudulent activities associated with organised criminals like the Prince Group cost Americans over $10 billion in 2024 alone. That stupefying figure emphasises both the magnitude of the issue and the need for immediate implementation of this new global initiative.

This crackdown indicates a clear move — a more combative, militant, consolidated front by Western countries against an emerging and intensifying surge of cyber-enabled financial crimes. Specialists and cybercrime professionals say it could serve as an example for future global alliances aiming at online criminal structures that take advantage of ambiguities in international economics, finance, and territorial control.

With cyber fraud indicating no signs of decelerating, experts and officials hope this coordinated initiative will be a turning point—one that sends the message that no scammer in the world is out of reach, no matter where in the world they hide.