The United States and the United Kingdom have launched a significant crackdown on a Southeast Asian cyber fraud network, targeting Cambodia's Prince Group and Huione Group. The U.S. Treasury's OFAC and FinCEN, in collaboration with the UK's FCDO, have sanctioned Chen Zhi, the TCO of Prince Group, and cut off Huione Group's access to the U.S. financial system. This action marks the largest of its kind against a cyber fraud ring in the region. FinCEN has issued a final rule under Section 311 of the Patriot Act, accusing Huione of laundering approximately $4 billion from August 2021 to January 2025. This includes $37 million in North Korea-related virtual currencies and $36 million in investment scams. The U.S. has also indicted Chen Zhi, freezing the U.S. assets of entities involved, such as Prince Holding Group, Prince Bank, and Jin Bei Group, and prohibiting related transactions.