South Korea imposed sweeping restrictions on the Cambodia based Prince Group on Thursday, joining a widening international campaign aimed at dismantling what officials describe as one of the most sophisticated scam networks operating across Southeast Asia.
The move marks the first time Seoul has issued independent sanctions targeting transnational organized crime and represents the largest single sanction package in its history.
Officials said the action underscores the government’s “firm determination” to confront rising online crime, forced labor and cross-border fraud schemes that have left thousands of victims worldwide.
The announcement makes South Korea the fourth government in recent months to levy penalties, deepening the global pressure on the group as investigations widen.
The decision to impose South Korea sanctions Prince Group follows similar measures introduced in October by the United States, United Kingdom and Singapore.
Authorities across the region have described the organization as a sprawling criminal network running scam compounds in Cambodia and Myanmar, where trafficked workers have allegedly been coerced into carrying out cryptocurrency fraud, romance scams and investment cons.
South Korean officials said fifteen individuals and 132 entities linked to Prince Group have now been added to the country’s sanctions list.
The action comes weeks after Seoul and Phnom Penh agreed to form a joint task force to combat digital crime, following the death of a South Korean university student who was reportedly tortured inside a Cambodian scam center in August.
Prince Group has denied all accusations. In a statement shared through US based law firm Boies Schiller Flexner earlier this month, the organization described the allegations as “baseless” and said its assets had been unlawfully seized.
Representatives for the group did not immediately respond to requests for comment. Security analysts noted that the decision to enact South Korea sanctions Prince Group signals a broader shift in how governments are responding to cross border cybercrime.
Park Hyun seok, a cybersecurity researcher at the Korea Institute for Strategic Studies, said the coordinated measures show that countries are no longer treating Southeast Asia’s scam operations as isolated issues.
“These networks rely on global financial systems, so national responses alone cannot disrupt them,” Park said. “South Korea is recognizing that transnational crime requires transnational enforcement.”
Others pointed to the role of cryptocurrency in enabling the rapid growth of scam centers. The US Department of Justice announced in October that it had seized roughly $15 billion worth of bitcoin linked to Cambodian national Chen Zhi, also known as Vincent, the thirty eight year old chairman of Prince Group.
Chen faces wire fraud conspiracy and money laundering conspiracy charges but remains at large. Lena Royston, a former financial crimes investigator at Interpol, said the newly announced South Korea sanctions Prince Group package sends a message that “safe havens for illicit digital economies are shrinking quickly.”
International organizations estimate that scam compounds in Cambodia, Myanmar and Laos have trafficked more than one hundred thousand workers, mainly from China, Vietnam, Malaysia and Africa.
Victims are often lured through fake job advertisements promising high salaries, only to be detained and forced to operate fraudulent call centers.
The United Kingdom, which sanctioned Prince Group in October, said victims were threatened with violence if they refused to take part in online cons, including crypto fraud and romance schemes.
Singapore authorities have also seized more than 150 million Singapore dollars in assets tied to the network, including bank accounts, cash and securities.
South Korea’s sanctions extend beyond Prince Group and include the Huione Group, another Cambodian financial network previously accused by US officials of facilitating money laundering for North Korean cybercriminals and Southeast Asian fraud syndicates.
“This demonstrates the scale of the problem,” said Yutaka Ichikawa, an independent Asia Pacific financial regulation specialist. “Multiple criminal ecosystems are intersecting, and agencies are beginning to realize they must respond at the same scale.”
Residents and civil society advocates in Phnom Penh say the increased scrutiny has intensified discussions about labor trafficking and digital crime in Cambodia.
Sopheak Dara, a volunteer with a local anti trafficking hotline, said she has seen a rise in calls from families searching for missing relatives.
“People disappear after accepting job offers from social media,” she said. “When they arrive, they find themselves locked inside buildings with no passport, no pay and no way out.”
A South Korean expatriate who lives in Sihanoukville and asked not to be identified for safety reasons said rumors about large compounds operating behind guarded walls have circulated for years. He said Seoul’s latest actions may help spur more public awareness.
“Everyone here has heard stories,” he said. “We hope the South Korea sanctions Prince Group will bring pressure for change, because these crimes affect real people every day.”
Analysts expect enforcement actions to expand in the coming months as governments coordinate investigations, share intelligence and adopt tougher financial monitoring systems.
Officials in Seoul said cooperation with Cambodian law enforcement will remain a priority, particularly in efforts to locate trafficked South Korean nationals inside scam compounds.
However, experts caution that breaking up networks as extensive as Prince Group could take years. Many scam centers operate in semi autonomous border regions where law enforcement presence is limited. Cryptocurrency transactions and shell companies further complicate tracking efforts.
Still, regional analysts say unified international action, including the latest South Korea sanctions Prince Group, may significantly weaken the group’s financial reach and disrupt its operations.
South Korea’s move to sanction Prince Group marks a turning point in the global fight against Southeast Asia’s expanding scam networks.
By joining the United States, United Kingdom and Singapore, Seoul has added momentum to an increasingly coordinated campaign targeting illicit online operations, human trafficking and money laundering.
While the impact of these measures will take time to assess, governments and experts say sustained pressure remains essential to curbing transnational crime that has victimized people around the world.
