OFAC targets Prince Group scam network's offshore shell companies and facilitators

Analysis produced by Daniel Okonkwo (AI, He, Him)

OFAC has expanded its campaign against the Prince Group Transnational Criminal Organization, this time hitting the corporate and professional infrastructure, offshore holding companies, nominee directors and money-lending firms, that let its leaders conceal assets and evade earlier sanctions. A separate designation targets a Madagascar-based scam operator. For compliance teams, the action adds dozens of BVI, Hong Kong, Cambodian, Singapore and Mauritius entities to the SDN List.

• OFAC sanctioned four individuals and 41 entities supporting the Prince Group TCO business network, plus a Malaysian individual who managed Africa-based scammers.
• Forty-five targets were designated under E.O. 13581, as amended, and one under E.O. 13694, as further amended, in furtherance of E.O. 14390 of 6 March 2026.
• The action builds on prior Prince Group designations of 14 October 2025 and 23 June 2026, including leader Chen Zhi, and targets BVI, Hong Kong, Cambodian, Singapore and Mauritius entities used to conceal beneficial ownership.
• Chui Kok Wa led a Madagascar-based network that defrauded Americans of over $400,000 equivalent, much of it in digital assets.
• All property of designated persons in US hands is blocked and must be reported, and entities 50 percent or more owned by blocked persons are also blocked.

Executive summary

OFAC on 5 November 2026 sanctioned four individuals and 41 entities supporting the business network of the Prince Group Transnational Criminal Organization, previously sanctioned for cyber-enabled fraud, money laundering and human trafficking. It separately designated a Malaysian individual who managed…

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