OFAC sanctions 46 targets linked to global scam networks and expands Cuba restrictions

WASHINGTON, November 5, 2026 — The US Treasury Department's Office of Foreign Assets Control (OFAC) sanctioned five individuals and 41 entities in an operation targeting the financial and corporate infrastructure supporting cyber-enabled fraud, money laundering and human trafficking. The measures primarily target the Cambodia-based Prince Group Transnational Criminal Organization, with a separate designation targeting a Malaysian national accused of operating an Africa-based online fraud network.

The action builds on previous sanctions against Prince Group in October 2025 and June 2026. Treasury said the organization had generated billions of dollars through fraudulent digital asset investments, romance scams and other online schemes, often involving trafficked workers operating from scam compounds in Southeast Asia. The latest designations target individuals and companies allegedly used to conceal beneficial ownership, transfer assets, maintain commercial operations and circumvent existing US sanctions.

Among those designated are Qiu Yong, accused of controlling an extensive network of companies in the British Virgin Islands and Hong Kong on behalf of Prince Group, and Zhao Mengyao, who allegedly helped administer companies under Qiu's control. OFAC also targeted He Yujing and Visal Pang over their connections to previously sanctioned Prince Group executives. The measures extend to companies operating in financial services, insurance, property development, transportation, technology and other commercial sectors.

The designations were imposed under Executive Order 13581, as amended, targeting transnational criminal organizations, and Executive Order 13694, as amended, addressing malicious cyber-enabled activities. Treasury said the operation involved cooperation with US law enforcement agencies and authorities in the United Kingdom and British Virgin Islands.

Separately, OFAC announced sanctions targeting Cuba's foreign military support and revenue-generating networks. The measures include two individuals, six companies and two vessels, alongside updates to existing sanctions records. Designated companies include Chinese technology supplier Beijing H&C Technologies, Cuban state enterprises Cubaelectronica and Tecnosime, and maritime operators involved in shipping activities connected to Cuba.

OFAC also published a determination under Executive Order 14404 identifying Cuba's electronics, manufacturing, marine and technology sectors as sectors of the Cuban economy potentially subject to sanctions. The determination establishes a basis for future designations rather than automatically sanctioning every company operating in those sectors.

The new designations generally block property and interests in property within US jurisdiction and prohibit transactions involving designated parties by US persons, unless authorized or exempt. The restrictions also extend to entities owned 50% or more by blocked persons, directly or indirectly and individually or collectively.