Sanctions

AML / KYC

Mining the Blockchain: Lessons from the Prince Group Laundering Case

By Nathan Lynch | 10/11/2025

The US DOJ’s case against Chen Zhi, chairman of Cambodian-headquartered Prince Group, has provided a unique window into the role of cryptocurrency in modern money laundering schemes.

Enforcement

Singapore Revokes Tax Perks for Two SFOs Linked to Prince Group

By Nithya Subramanian | 06/11/2025

The action took place after police seized more than S$150 million in assets linked to Prince Group chairman Chen Zhi, who was sanctioned by the US and UK.

AML / KYC

Taiwan Freezes Over $500M in Assets Linked to Sanctioned Prince Group

By Mark Johnston | 06/11/2025

Co-ordinated regional enforcement actions follow US and UK sanctions on a multinational network accused of running forced-labour scam centres.

Sanctions

US Sanctions North Korean Bankers for Laundering Cybercrime Proceeds

By Nithya Subramanian | 05/11/2025

OFAC sanctioned eight individuals and two entities for laundering illicit funds supporting North Korea’s weapons programmes, cyberattacks, and IT operations.

Sanctions

US to Suspend 'Affiliates Rule' for Export Controls

By Mark Johnston | 05/11/2025

A one-year pause on the rule was agreed with China, though the rule technically remains in effect until a formal notice is issued.

Sanctions

Hong Kong Freezes HK$2.75 Billion in Prince Group Probe

By Manesh Samtani | 05/11/2025

Hong Kong authorities have taken action against local firms as police freeze assets tied to a Cambodian syndicate accused of running global scam centres.

Sanctions

New Zealand MFAT Recommends Enhancements to Russia Sanctions Framework

By Manesh Samtani | 05/11/2025

A statutory review found the Russia Sanctions Act 2022 is fit for purpose but calls for targeted changes to ease compliance burdens on financial institutions.

Enforcement

Korea NTS Probes Prince and Huione Groups Tax Evasion, Laundering Links

By Mark Johnston | 05/11/2025

Tax agency investigating domestic offices of Prince Group and a Huione-linked currency exchange over suspected phishing proceeds and tax fraud.

Sanctions

US Sanctions Human Smuggling Network Led by Indian-Mexican National

By Nithya Subramanian | 03/11/2025

OFAC sanctioned Bhardwaj Human Smuggling Organization, its leader, and 16 related companies for trafficking migrants and laundering illicit profits across multiple countries.