The Treasury Department sanctioned four individuals and 41 entities that support the Prince Group Transnational Criminal Organization in cyber-enabled fraud, money laundering, and human trafficking.
Details: Treasury said Prince Group TCO-affiliated actors have generated billions of dollars in illicit proceeds through cyber-enabled fraud schemes, such as digital asset investment scams and romance scams that have victimized individuals around the world.
Past Action: Treasury in June took coordinated action to further disrupt the Prince Group for its role in a global criminal enterprise built on scam compounds, fraud, and money laundering.
Scope: The FBI’s 2025 Internet Crime Report shows cyber-enabled crimes defrauded Americans of nearly $21 billion last year, with crypto and AI-related complaints among the costliest.
ICBA Advocacy: ICBA last year said more needs to be done to curtail the rapid growth of crypto scams.
Resources for Community Bankers: Cyber and data security resources for community bankers are available on ICBA’s website.