https://www.scmp.com/rss/523939/feed The latest news and top stories on Chen Zhi. A Cambodian-Chinese tycoon, he is the founder and chairman of Prince Group, a multinational conglomerate. He faces indictment in a Brooklyn federal court for wire fraud and money laundering conspiracy, accused of directing forced-labour scam compounds involved in cryptocurrency fraud. The US and UK have sanctioned him and the group. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com SCMP Editorial SCMP Editorial It’s not the kind of list that Hong Kong wants to top. But it may be the price we pay for being a premier financial hub. In a massive crackdown by law enforcement agencies from 10 jurisdictions on international scams, some US$752 million in losses have been identified, with Hong Kong accounting for 42 per cent of the total. Hong Kong police worked with their counterparts from Brunei, Canada, Indonesia, Macau, Malaysia, the Maldives, Singapore, South Korea and Thailand. Together, some 3,200... https://www.scmp.com/opinion/comment/article/3354507/hong-kong-should-spare-no-effort-fight-against-financial-crime?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3354507/hong-kong-should-spare-no-effort-fight-against-financial-crime?utm_source=rss_feed Sun, 24 May 2026 22:45:06 +0000 Phoebe Zhang Phoebe Zhang Cambodian authorities raided two buildings in Phnom Penh’s Prince Plaza Centre linked to the extradited Chinese billionaire Chen Zhi and detained 104 individuals, including 82 Chinese nationals, local media reported. Governments around the world have intensified their crackdown on Chen’s alleged multibillion-dollar online scam empire since his arrest earlier this year. The Cambodian raid, a joint operation by Phnom Penh police, the country’s Commission for Combating Technology-Based Scams... https://www.scmp.com/news/china/politics/article/3354331/cambodia-raids-buildings-linked-chen-zhi-chinese-billionaire-accused-scam-empire?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3354331/cambodia-raids-buildings-linked-chen-zhi-chinese-billionaire-accused-scam-empire?utm_source=rss_feed Thu, 21 May 2026 05:47:54 +0000 SCMP Reporters SCMP Reporters A Hong Kong court has ordered the freezing of properties and assets worth more than HK$9 billion (US$1.15 billion) held by detained Chinese-born Cambodian businessman Chen Zhi and companies and individuals tied to him, the South China Morning Post has learned. A source told the SCMP on Thursday that the High Court had ordered a restriction on such properties earlier this month following an application from the Department of Justice involving Chen, who is accused of running a sprawling online... https://www.scmp.com/news/hong-kong/law-and-crime/article/3353556/hong-kong-court-freezes-hk9-billion-assets-properties-linked-chen-zhi?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3353556/hong-kong-court-freezes-hk9-billion-assets-properties-linked-chen-zhi?utm_source=rss_feed Thu, 14 May 2026 08:53:44 +0000 Laura Zhou Laura Zhou Chinese Foreign Minister Wang Yi called for China and Cambodia to “stand in closer solidarity, now more than ever” in the first 2+2 strategic dialogue aimed at deepening mutual political and security ties. During a meeting in Phnom Penh, Wang also urged the two sides to further strengthen political and security cooperation to “firmly hold the reins of development and security in their own hands”. The meeting on Wednesday was the first under the 2+2 mechanism with Cambodia involving defence and... https://www.scmp.com/news/china/diplomacy/article/3351116/china-calls-cambodia-shared-security-and-risks-during-global-turmoil?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3351116/china-calls-cambodia-shared-security-and-risks-during-global-turmoil?utm_source=rss_feed Thu, 23 Apr 2026 08:00:09 +0000 Maria Siow Maria Siow Cambodia’s first law targeting scam centres, passed after mounting international pressure over the country’s massive fraud and trafficking economy, may do little to curb it unless authorities go after the officials and networks that have long enabled it, analysts have warned. Approved by parliament on Friday, the law takes aim at an industry estimated to generate up to US$19 billion annually and to have trafficked as many as 200,000 workers into compounds across the country. Justice Minister... https://www.scmp.com/week-asia/politics/article/3349298/cambodia-has-new-law-targeting-scams-it-just-another-paper-reform?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3349298/cambodia-has-new-law-targeting-scams-it-just-another-paper-reform?utm_source=rss_feed Wed, 08 Apr 2026 00:00:17 +0000 Bryanna Entwistle Bryanna Entwistle On April 1, amid China’s cybercrime offensive in Southeast Asia, Cambodia extradited to China Li Xiong, former chairman of Huione Group, which had been severed from the US financial system last year for laundering at least US$336 million from cyber scams between 2021 and 2025. The US had also sanctioned Huione’s parent company, Prince Group, and indicted founder Chen Zhi. In January, Cambodia extradited Chen to China, securing the arrest of a man accused of being Cambodia’s biggest scam... https://www.scmp.com/opinion/asia-opinion/article/3349051/beat-cambodias-scam-gangs-us-must-work-china-not-blame-it?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3349051/beat-cambodias-scam-gangs-us-must-work-china-not-blame-it?utm_source=rss_feed Tue, 07 Apr 2026 21:30:07 +0000 Laura Zhou Laura Zhou The compound is modern with air conditioning in every room. Inside are a medical clinic, massage parlour, and Vietnamese barbecue, Chinese hotpot and halal eateries – a full range of conveniences. Yet the residents are gone – and they appear to have fled in haste. Clothes still hang out to dry, while the stench of rotting food lingers. Located in a secluded area in Kampot province near Cambodia’s border with Vietnam, the site is believed to be a telecoms scam centre. Cambodian authorities said... https://www.scmp.com/news/china/diplomacy/article/3348930/game-whack-mole-how-could-scam-industry-bring-china-and-us-together?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3348930/game-whack-mole-how-could-scam-industry-bring-china-and-us-together?utm_source=rss_feed Fri, 03 Apr 2026 22:00:10 +0000 Aidan Jones Aidan Jones Young, naive and now sleeping rough on a plastic sheet outside their embassy in Phnom Penh, Indonesians Abdul* and Hafiz* are among the expendable human resources of Southeast Asia’s scam trade. After a year-long tumble through Cambodia’s vortex of scams, they were cast out onto a pavement – penniless and without passports – waiting for the embassy to issue new travel documents and a plane ticket home. “Our Chinese boss stole all of our passports,” said Abdul, 20, gesturing to a dozen or so of... https://www.scmp.com/week-asia/politics/article/3348190/cambodias-scam-crackdown-deadline-looms-criminal-gangs-flee?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3348190/cambodias-scam-crackdown-deadline-looms-criminal-gangs-flee?utm_source=rss_feed Sun, 29 Mar 2026 02:00:10 +0000 Reuters Reuters Singapore police have announced arrests of three Singaporeans as part of investigations into ⁠alleged transnational scam syndicate Prince Group and its founder and chairman, Chen Zhi, who is in Chinese detention. Police said the three men were arrested between November 2025 and January for their suspected involvement in money laundering and fraud offences in relation to the case. Each offence is punishable by imprisonment of up to 10 years, a fine or both. Assets frozen include three properties,... https://www.scmp.com/news/asia/southeast-asia/article/3345539/singapore-police-seize-yacht-cars-properties-worth-us390-million-prince-group-probe?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3345539/singapore-police-seize-yacht-cars-properties-worth-us390-million-prince-group-probe?utm_source=rss_feed Thu, 05 Mar 2026 06:48:56 +0000 Agence France-Presse Agence France-Presse Cambodia’s Prime Minister Hun Manet said on Wednesday that scam centres were destroying his country’s economy and giving the nation a bad name – pushing back on allegations of government connivance. The nation has emerged as a hotspot for crime syndicates running a multibillion-dollar fraud industry that sees scammers lure internet users globally into fake romantic relationships and cryptocurrency investments. “The scam network, what we call the black economy, is destroying our honest economy.... https://www.scmp.com/news/asia/southeast-asia/article/3344713/cambodias-hun-manet-denies-state-profiting-scam-centre-proceeds?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3344713/cambodias-hun-manet-denies-state-profiting-scam-centre-proceeds?utm_source=rss_feed Thu, 26 Feb 2026 07:39:02 +0000 Jess Ma Jess Ma Hong Kong authorities froze HK$261 million (US$33.4 million) in suspected criminal proceeds linked to money laundering and drug trafficking last year, but experts say it may take as long as seven years for any of the funds to reach government coffers. According to data from the Joint Financial Intelligence Unit, run by police and customs, a total of HK$869 million confiscated criminal proceeds landed in the coffers between 2018 and 2024, with the annual amount fluctuating between HK$284 million... https://www.scmp.com/news/hong-kong/law-and-crime/article/3344218/hk261-million-frozen-crime-funds-may-take-7-years-reach-hong-kong-coffers?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3344218/hk261-million-frozen-crime-funds-may-take-7-years-reach-hong-kong-coffers?utm_source=rss_feed Sun, 22 Feb 2026 04:00:13 +0000 Zhao Ziwen Zhao Ziwen Two Chinese diplomatic missions in Southeast Asia have issued warnings urging citizens to stay away from gambling following two deaths allegedly linked to financial losses. The Chinese consulate in Da Nang, Vietnam said in a statement on Monday that cross-border gambling was a criminal offence in China and citizens found to be involved would be “held legally accountable in accordance with the law”. It also warned that consular protection could not be provided to a Chinese citizen under threat... https://www.scmp.com/news/china/diplomacy/article/3343887/chinese-missions-vietnam-and-singapore-warn-citizens-stay-away-gambling?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3343887/chinese-missions-vietnam-and-singapore-warn-citizens-stay-away-gambling?utm_source=rss_feed Wed, 18 Feb 2026 07:21:37 +0000 Ivan Franceschini,Charlotte Setijadi,Ling Li Ivan Franceschini,Charlotte Setijadi,Ling Li “I was running from the war, and I got to a war again.” This is how Eric, a young man from central Africa, described how he ended up at a scam compound in Cambodia – and then stranded in the country with no way out. His story is like that of many people deceived into the scamming world. After fleeing conflict in his home country and living in extreme deprivation, Eric – not his real name – received an email offering a US$2,000-per-month job in Cambodia. The recruiter quickly persuaded him to... https://www.scmp.com/week-asia/opinion/article/3343519/cambodias-scam-factory-survivors-find-no-escape-freedom?utm_source=rss_feed https://www.scmp.com/week-asia/opinion/article/3343519/cambodias-scam-factory-survivors-find-no-escape-freedom?utm_source=rss_feed Sun, 15 Feb 2026 04:00:18 +0000 SCMP SCMP We have selected seven stories from this week’s news across Hong Kong, mainland China, the wider Asia region and beyond that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. ‘Time is ripe’: why China is eyeing another vast canal link to Southeast Asia China has almost finished building the US$10 billion Pinglu Canal to deepen trade ties between its southwestern provinces and Southeast Asia. Now, it is... https://www.scmp.com/news/world/article/3343399/chinas-canal-link-southeast-asia-malaysias-illegal-temple-row-scmps-7-highlights?utm_source=rss_feed https://www.scmp.com/news/world/article/3343399/chinas-canal-link-southeast-asia-malaysias-illegal-temple-row-scmps-7-highlights?utm_source=rss_feed Fri, 13 Feb 2026 04:34:10 +0000 Bloomberg Bloomberg Criminals in Southeast Asia are harnessing inexpensive AI tools to target bigger pools of potential victims at high speed, keeping scam centres humming even as governments try to crack down, senior officials at Interpol say. Previously, some scams were easy to spot – from poor quality online ads luring people to work in such centres to the scams themselves, typically designed to make people part with their money through the promise of romance or investment returns. Now, scammers are using large... https://www.scmp.com/news/asia/southeast-asia/article/3343016/southeast-asias-scam-hubs-are-adept-conning-now-ai-making-it-easier-faster?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3343016/southeast-asias-scam-hubs-are-adept-conning-now-ai-making-it-easier-faster?utm_source=rss_feed Tue, 10 Feb 2026 05:22:57 +0000 Laura Zhou Laura Zhou Cambodia continues to work with China, the United States and Britain on the case of Chen Zhi, the business tycoon accused of masterminding a vast network that scammed billions from victims around the world, according to a government minister in Phnom Penh. “We are collaborating with the US, China and also the UK,” Chhay Sinarith, a senior minister who also heads Cambodia’s Commission for Combating Online Scams, said in an interview with the South China Morning Post on Monday. Chen, who held... https://www.scmp.com/news/china/diplomacy/article/3342993/uk-us-cybercrime-cooperation-continues-after-chen-zhi-extradition-china?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3342993/uk-us-cybercrime-cooperation-continues-after-chen-zhi-extradition-china?utm_source=rss_feed Tue, 10 Feb 2026 04:02:07 +0000 Sylvie Zhuang Sylvie Zhuang China is looking to escalate measures against cybercriminals operating inside and outside its borders by banning convicted citizens from leaving the country, even after they have completed their sentences. The draft Cybercrime Prevention and Control Law bill comes as China doubles down on working with Southeast Asian countries to crack down on cross-border online fraud. The bill, which aims to impose an exit ban on Chinese people found guilty of cross-border online crimes for up to three years... https://www.scmp.com/news/china/politics/article/3342128/china-moves-boost-cybercrime-penalties-adding-exit-ban-after-sentences?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3342128/china-moves-boost-cybercrime-penalties-adding-exit-ban-after-sentences?utm_source=rss_feed Mon, 02 Feb 2026 11:34:58 +0000 Phoebe Zhang,Sylvie Zhuang Phoebe Zhang,Sylvie Zhuang When a film about an investigation into a phone scam in Cambodia debuted at the Busan International Film Festival in 2018, it was not the cast or the plot that drew attention in China. Instead, the focus was on the film’s executive producer, Chen Zhi – a billionaire Chinese businessman who has himself been accused of running a sprawling online scam network in Cambodia. In The Prey – touted as Cambodia’s “first million-dollar action movie” – an undercover Interpol operative ends up in jail. But... https://www.scmp.com/news/china/politics/article/3341096/why-china-was-so-keen-get-alleged-cybercrime-boss-chen-zhi-first?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3341096/why-china-was-so-keen-get-alleged-cybercrime-boss-chen-zhi-first?utm_source=rss_feed Sat, 24 Jan 2026 22:00:09 +0000 Associated Press Associated Press Dozens of South Koreans allegedly involved in online scams in Cambodia were returned to South Korea on Friday to face investigations in what was the largest group repatriation of Korean criminal suspects from abroad. The 73 South Korean suspects allegedly scammed fellow Koreans out of 48.6 billion won (US$33 million), according to a South Korean government statement. Upon arrival in South Korea’s Incheon Airport aboard a chartered plane, the suspects – 65 men and eight women – were sent to... https://www.scmp.com/news/asia/east-asia/article/3341017/73-south-koreans-repatriated-cambodia-face-probe-over-online-scams-involvement?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3341017/73-south-koreans-repatriated-cambodia-face-probe-over-online-scams-involvement?utm_source=rss_feed Fri, 23 Jan 2026 09:50:08 +0000 Zhao Ziwen Zhao Ziwen Beijing is urging Phnom Penh to broaden its crackdown on Cambodia’s online fraud industry, keeping up pressure following the arrest and extradition to China of alleged fraud kingpin Chen Zhi. In a meeting with Phnom Penh’s interior and foreign ministers, Chinese ambassador to Cambodia Wang Wenbin said criminal acts of online fraud, illegal detention and related transnational crimes “posed a serious obstacle” to deepening cooperation between the two countries. “Recent incidents involving Chinese... https://www.scmp.com/news/china/diplomacy/article/3340256/china-keeps-pressure-cambodia-target-cross-border-fraud-and-trafficking?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3340256/china-keeps-pressure-cambodia-target-cross-border-fraud-and-trafficking?utm_source=rss_feed Sat, 17 Jan 2026 09:00:08 +0000 Kandy Wong Kandy Wong The seizure of enormous cryptocurrency caches in two high-profile criminal cases in China – a former head of the central bank’s digital currency research institute accused of corruption, and an alleged scam centre kingpin linked to about US$15 billion in bitcoin – have sparked questions in the country about the safety and future of virtual money. But analysts said the long-term trend for the assets, especially bitcoin, depended on institutional capital, interest rate expectations and the... https://www.scmp.com/economy/china-economy/article/3340176/scam-and-corruption-cases-spark-debate-china-over-cryptocurrencies-future?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3340176/scam-and-corruption-cases-spark-debate-china-over-cryptocurrencies-future?utm_source=rss_feed Sat, 17 Jan 2026 07:00:09 +0000 Reuters Reuters Cambodia’s arrest of alleged scam centre kingpin Chen Zhi and his extradition to China is “not the end” of ‍the Southeast Asian nation’s battle to stamp out transborder crimes, its foreign minister said. Last week’s surprise arrest of Chinese-born Chen is a key step in an until now fragmented international campaign targeting sophisticated scam networks in Southeast Asia run by criminal gangs, swindling victims worldwide out of billions of dollars. The extradition of Chen, sanctioned by ⁠several... https://www.scmp.com/news/asia/southeast-asia/article/3339902/cambodia-says-chen-zhis-extradition-china-not-end-scam-centre-crackdown?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3339902/cambodia-says-chen-zhis-extradition-china-not-end-scam-centre-crackdown?utm_source=rss_feed Wed, 14 Jan 2026 11:38:02 +0000 SCMP Editorial SCMP Editorial Catching transnational criminals and neutralising their networks requires international cooperation. That may have been the lesson of Chen Zhi, whose alleged brazen criminal activities have shocked people and made global headlines. Now, the accused has been caught and extradited by Cambodia to China. Hong Kong authorities have frozen HK$2.75 billion (US$353 million) in assets belonging to Chen and his numerous businesses, but that was just the tip of the iceberg. Chen and his alleged criminal... https://www.scmp.com/opinion/comment/article/3339274/regional-cooperation-led-arrest-alleged-scam-kingpin-chen-zhi?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3339274/regional-cooperation-led-arrest-alleged-scam-kingpin-chen-zhi?utm_source=rss_feed Fri, 09 Jan 2026 22:45:08 +0000 Agence France-Presse Agence France-Presse A Cambodian bank founded by accused scam boss Chen Zhi, who has been indicted by the United States over a multibillion-dollar fraud and extradited to China, was ordered liquidated on Thursday, Cambodia’s central bank said. Prince Bank “has been placed under liquidation in accordance with the laws of the Kingdom of Cambodia”, the National Bank of Cambodia (NBC) said in a statement. Prince Bank has been “suspended from providing new banking services, including accepting deposits and providing... https://www.scmp.com/news/asia/southeast-asia/article/3339137/cambodia-dissolves-accused-scam-tycoon-chen-zhis-prince-bank?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3339137/cambodia-dissolves-accused-scam-tycoon-chen-zhis-prince-bank?utm_source=rss_feed Thu, 08 Jan 2026 05:55:46 +0000 Phoebe Zhang Phoebe Zhang Cambodia has extradited to the mainland a Chinese billionaire whom Beijing accuses of operating a transnational crime network, including alleged involvement in a casino and fraud. At the request of Chinese authorities, Cambodia arrested three Chinese nationals – including Chen Zhi, the founder of Prince Holding Group – and transferred them to China on Tuesday, the Cambodia China Times reported on Wednesday night. The Cambodian Ministry of Interior said law enforcement from both countries had... https://www.scmp.com/news/china/politics/article/3339118/alleged-scam-billionaire-chen-zhi-arrested-cambodia-and-extradited-china?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3339118/alleged-scam-billionaire-chen-zhi-arrested-cambodia-and-extradited-china?utm_source=rss_feed Thu, 08 Jan 2026 02:54:20 +0000 Lam Ka-sing Lam Ka-sing Recently sanctioned Chinese-born Cambodian businessman Chen Zhi has been linked to a network of entities in Hong Kong, with the move triggering regulatory measures and prompting auditors and directors to quit those firms. Company documents reviewed by the Post reveal an interconnected group of firms sharing directors and addresses tied to Chen, luxury real estate and previously appointed international business figures, raising questions about the depth of his operations in Hong Kong and the... https://www.scmp.com/news/hong-kong/law-and-crime/article/3338657/sanctioned-chen-zhis-hong-kong-firms-rocked-resignations-and-frozen-assets?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3338657/sanctioned-chen-zhis-hong-kong-firms-rocked-resignations-and-frozen-assets?utm_source=rss_feed Sun, 04 Jan 2026 05:59:12 +0000 Phoebe Zhang Phoebe Zhang China has highlighted its success in joint law enforcement with the US, with state media publishing a rare report on a drugs-related money laundering case triggered by a tip-off from American authorities. Two men were sentenced in September in the case spanning both nations, the People’s Daily reported last week. This comes amid renewed US-China momentum against drug crimes, showcasing steady bilateral progress in anti-narcotics enforcement. Officers in Shenyang, in northeast China’s Liaoning... https://www.scmp.com/news/china/politics/article/3337299/china-praises-joint-effort-us-after-pair-sentenced-drug-related-money-laundering?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3337299/china-praises-joint-effort-us-after-pair-sentenced-drug-related-money-laundering?utm_source=rss_feed Mon, 22 Dec 2025 07:15:12 +0000 Bloomberg Bloomberg Singapore police have arrested a US-sanctioned man who operated a superyacht for the alleged mastermind of one of Asia’s largest scam networks. Nigel Tang Wan Bao Nabil was taken into custody on December 11 after he returned to Singapore, according to a police statement on Thursday. Tang is currently out on bail, according to people familiar with the matter who asked not to be identified for sharing non-public information. Tang was arrested for his “suspected involvement in money laundering... https://www.scmp.com/news/asia/southeast-asia/article/3336990/singapore-arrests-us-sanctioned-yacht-captain-linked-tycoon-chen-zhi?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3336990/singapore-arrests-us-sanctioned-yacht-captain-linked-tycoon-chen-zhi?utm_source=rss_feed Fri, 19 Dec 2025 02:54:05 +0000 Aidan Jones,Don Pathan Aidan Jones,Don Pathan Taking a short cut through Pattaya’s “Scammer Alley”, a neon maze of bars, hotpot restaurants and 24-hour Korean barbecue joints, taxi driver May shakes her head. The money washing around this Thai resort is so thick with fraud that even her own bank account has been frozen. “They pay with QR codes linked to mule accounts,” she said, referring to bank accounts legally registered under Thai names but secretly controlled by the foreign cybercriminals who have turned this part of Southeast Asia... https://www.scmp.com/week-asia/economics/article/3335392/southeast-asias-billion-dollar-scam-industry-refuses-die-everyone-gets-cut?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3335392/southeast-asias-billion-dollar-scam-industry-refuses-die-everyone-gets-cut?utm_source=rss_feed Mon, 08 Dec 2025 00:00:13 +0000 Reuters,The Korea Times Reuters,The Korea Times The South Korean government on Thursday imposed sanctions on individuals and companies across Southeast Asia tied to regional crime rings, in response to a surge in crimes targeting Korean nationals. “It is our first unilateral sanction responding to a transnational crime and the single biggest, which shows the government’s willingness to actively respond to online crimes in Southeast Asia,” it said in a statement. The sweeping measures target 15 individuals and 132 entities believed to have... https://www.scmp.com/news/asia/east-asia/article/3334361/south-korea-sanctions-prince-groups-chen-zhi-over-cambodia-scam-rings?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3334361/south-korea-sanctions-prince-groups-chen-zhi-over-cambodia-scam-rings?utm_source=rss_feed Thu, 27 Nov 2025 09:10:01 +0000 Bloomberg Bloomberg Singapore authorities raided a car loan company that borrowed from a firm connected to Prince Holding Group, as the net widens on those linked to the alleged scam organisation and its chair, Chen Zhi. The premises of Singapore-registered SRS Auto Holdings were raided by police last week, according to people familiar with the matter, who asked not to be identified disclosing sensitive information. The sole proprietor of SRS, Tan Yew Kiat, was arrested, they said. “The police are investigating... https://www.scmp.com/news/asia/southeast-asia/article/3333830/singapore-deepens-probe-chen-zhis-alleged-scam-empire-fresh-raid?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3333830/singapore-deepens-probe-chen-zhis-alleged-scam-empire-fresh-raid?utm_source=rss_feed Sun, 23 Nov 2025 05:05:39 +0000 Kyodo Kyodo The chairman of a Cambodia-based conglomerate indicted by US authorities over alleged large-scale investment fraud and money laundering had acquired a luxury property in Tokyo as his residence, Japanese corporate registration documents showed on Monday. Chen Zhi, a Cambodian national of Chinese descent who heads Prince Holding Group, established Prince Group in the Japanese capital in 2022 and is believed to have sought long-term residence status in Japan by starting his own business. The US... https://www.scmp.com/news/asia/east-asia/article/3333180/sanctions-hit-cambodian-tycoon-chen-zhi-owned-luxury-condo-tokyo?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3333180/sanctions-hit-cambodian-tycoon-chen-zhi-owned-luxury-condo-tokyo?utm_source=rss_feed Tue, 18 Nov 2025 01:31:43 +0000 Sam Beltran Sam Beltran A US-led crackdown on online scams may hand Southeast Asia an opportunity to combat the scourge, analysts say, as Washington and Beijing find common purpose in dismantling criminal networks that exploit lax governance and human trafficking. The United States launched its “Scam Centre Strike Force” last week to counter cryptocurrency fraud linked to Southeast Asia, estimating that such crimes defraud Americans of nearly US$10 billion a year. Many of these schemes, dubbed “pig butchering” scams,... https://www.scmp.com/week-asia/politics/article/3333072/what-us-anti-scam-strike-force-means-southeast-asias-cybercrime-fight?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3333072/what-us-anti-scam-strike-force-means-southeast-asias-cybercrime-fight?utm_source=rss_feed Mon, 17 Nov 2025 07:08:47 +0000 Xinmei Shen Xinmei Shen The US and China are ramping up crackdowns on cryptocurrency-related cross-border crimes with a flurry of actions against the suspected ringleaders of scam networks operating in Southeast Asia. In recent years, the border areas between Thailand, Myanmar, Laos and Cambodia have become hubs for online fraud operations, in which syndicates either trick or coerce their targeted victims to invest in bogus schemes and transfer money via bitcoin, ether or stablecoins before these are processed through... https://www.scmp.com/tech/tech-trends/article/3332675/us-chinese-authorities-ramp-actions-against-transnational-syndicates-running-crypto-scams?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3332675/us-chinese-authorities-ramp-actions-against-transnational-syndicates-running-crypto-scams?utm_source=rss_feed Thu, 13 Nov 2025 14:00:20 +0000 Agence France-Presse Agence France-Presse A Cambodian conglomerate whose founder has had more than US$15 billion of allegedly ill-gotten assets seized said it “categorically rejects” claims he amassed his fortune running an internet scam empire. A frenzy of asset confiscations in Europe, the United States and Asia has targeted Cambodia’s Prince Holding Group – with authorities alleging its founder Chen Zhi was running a transnational criminal organisation. The US Justice Department in October unsealed an indictment against the tycoon,... https://www.scmp.com/news/asia/southeast-asia/article/3332426/chen-zhis-firm-breaks-silence-denies-cambodian-tycoons-empire-built-scam-money?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3332426/chen-zhis-firm-breaks-silence-denies-cambodian-tycoons-empire-built-scam-money?utm_source=rss_feed Wed, 12 Nov 2025 04:42:06 +0000 SCMP Editorial SCMP Editorial The net is closing in on accused scammer and human trafficker Chen Zhi. The latest move involves Hong Kong police freezing HK$2.75 billion (US$352 million) in assets including cash, stocks and funds. These are believed to be criminal proceeds from a transnational criminal empire implicated in telecoms fraud, money laundering, kidnapping and trafficking allegedly headed by the Fujian-born Cambodian businessman, who is still at large. The United States, Britain, Taiwan and Singapore have already... https://www.scmp.com/opinion/comment/article/3332320/silver-lining-sprawling-scam-case-cross-border-cooperation?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3332320/silver-lining-sprawling-scam-case-cross-border-cooperation?utm_source=rss_feed Tue, 11 Nov 2025 22:45:07 +0000 Bloomberg Bloomberg In 2021, while China-born businessman Chen Zhi was building a multibillion-dollar empire now enmeshed in multiple criminal allegations, staff at his family office in Singapore ran into seemingly minor technical glitches. At first, some of them struggled to connect to the office copier. Days later, the door badges stopped working. After they regained access, staffers quickly realised they had a much bigger problem: millions of dollars had been siphoned from Chen’s bank accounts. While the founder... https://www.scmp.com/news/asia/southeast-asia/article/3331876/how-accused-kingpin-chen-zhi-was-conned-his-own-executive-singapore?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3331876/how-accused-kingpin-chen-zhi-was-conned-his-own-executive-singapore?utm_source=rss_feed Fri, 07 Nov 2025 04:47:26 +0000 Lam Ka-sing,Sylvie Zhuang Lam Ka-sing,Sylvie Zhuang Hong Kong police have frozen HK$2.75 billion (US$352 million) in assets, including cash, stocks and funds, believed to be the proceeds of crime from a cross-jurisdictional telecoms fraud and money laundering network. The measure targeted the network of Fujian-born Cambodian businessman Chen Zhi and his company, Prince Holding Group, both the subjects of sanctions by the United States and British authorities last month, a source said. Hong Kong police said on Tuesday that officers had... https://www.scmp.com/news/hong-kong/law-and-crime/article/3331498/hong-kong-police-freeze-hk275-billion-assets-linked-accused-scammer-chen-zhi?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3331498/hong-kong-police-freeze-hk275-billion-assets-linked-accused-scammer-chen-zhi?utm_source=rss_feed Tue, 04 Nov 2025 10:23:08 +0000 Xinmei Shen Xinmei Shen Chinese police are working with UK law enforcement authorities to track down fugitives and illicit funds involved in a massive cryptocurrency fraud and money laundering case, but experts see little likelihood for victims to recoup their losses. According to a statement, police in the northern city of Tianjin were “doing everything possible” to help more than 128,000 Chinese investors recoup funds caught in a web of fraudulent wealth schemes perpetrated between 2014 and 2017 by a syndicate, which... https://www.scmp.com/tech/blockchain/article/3331111/china-uk-police-join-forces-recover-funds-massive-crypto-fraud?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3331111/china-uk-police-join-forces-recover-funds-massive-crypto-fraud?utm_source=rss_feed Fri, 31 Oct 2025 12:25:02 +0000 Reuters Reuters Singapore police have seized more than S$150 million (US$115.90 million) in assets tied to the Prince Group, a multinational network accused of running vast scam centre operations, the Straits Times newspaper reported on Friday. The assets include six properties as well as bank accounts, securities accounts and cash tied to the network and Cambodian businessman Chen Zhi in relation to money laundering and forgery offences, the police said on Friday. This seizure came after Britain and the United... https://www.scmp.com/news/asia/southeast-asia/article/3331027/singapore-seizes-us115-million-assets-linked-cambodian-tycoon-chen-zhi?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3331027/singapore-seizes-us115-million-assets-linked-cambodian-tycoon-chen-zhi?utm_source=rss_feed Fri, 31 Oct 2025 06:04:10 +0000 Aidan Jones,Joseph Sipalan Aidan Jones,Joseph Sipalan A crackdown on a notorious Myanmar scam base is cosmetic and timed to appease world leaders meeting in Kuala Lumpur this weekend, a senior security source has told This Week in Asia, as links between politicians and fraud empires threaten to embarrass Asean with US President Donald Trump flying in for its summit. Scam factories from Myanmar, Cambodia and Laos have raked in tens of billions of dollars since the pandemic, run mainly by Chinese syndicates defrauding victims around the world through... https://www.scmp.com/week-asia/politics/article/3330302/ahead-asean-summit-scam-crackdown-myanmar-dismissed-not-serious?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3330302/ahead-asean-summit-scam-crackdown-myanmar-dismissed-not-serious?utm_source=rss_feed Sat, 25 Oct 2025 05:22:47 +0000 Agence France-Presse Agence France-Presse Thailand’s deputy finance minister resigned on Wednesday following allegations linking him to Cambodia-based cyber scam centres. Prime Minister Anutin Charnvirakul ordered Vorapak Tanyawong, a veteran financier who took office just last month, to submit a written explanation this week over the accusations. Vorapak came under scrutiny after a report this week tied him to an alleged foreign fraudster linked to cross-border scam operations in Cambodia. The “Whale Hunting” newsletter alleged that... https://www.scmp.com/news/asia/southeast-asia/article/3329961/thai-minister-resigns-over-cambodia-cyber-scam-links?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3329961/thai-minister-resigns-over-cambodia-cyber-scam-links?utm_source=rss_feed Wed, 22 Oct 2025 11:05:42 +0000 Julie Zhang Julie Zhang Li Thet, executive director of Hong Kong-listed FSM Holdings, resigned after US authorities linked him to an alleged Cambodian cyber-scam operation. The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Li for alleged criminal involvement with what it called the Prince Group transnational criminal organisation (TCO), which it and UK authorities said was involved in online scams, human trafficking and money laundering. Prince Holding Group, led by a Chinese-born... https://www.scmp.com/business/banking-finance/article/3329882/director-hong-kong-listed-fsm-holdings-resigns-amid-cambodian-crime-allegations?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3329882/director-hong-kong-listed-fsm-holdings-resigns-amid-cambodian-crime-allegations?utm_source=rss_feed Wed, 22 Oct 2025 04:30:26 +0000 Edith Lin,Willa Wu Edith Lin,Willa Wu A Chinese-born businessman sanctioned by the US and UK for alleged human trafficking through a Cambodian-based cybercrime empire and scam farm has operations in Hong Kong and a related company owns an office building in the city, the Post has found. The discovery followed an announcement by the US Office of Foreign Assets Control, which on Tuesday sanctioned more than 100 business entities including 11 Hong Kong companies linked to Chen Zhi, CEO and chairman of Cambodian conglomerate Prince... https://www.scmp.com/news/hong-kong/society/article/3329535/man-accused-running-cambodian-scam-farm-empire-has-hong-kong-business-links?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3329535/man-accused-running-cambodian-scam-farm-empire-has-hong-kong-business-links?utm_source=rss_feed Sat, 18 Oct 2025 14:09:22 +0000 Bloomberg Bloomberg Authorities in Thailand and Singapore are looking into a Cambodian real estate group after the United States and Britain imposed sanctions on the company’s chairman on allegations of fraud and money laundering. Surapol Prembutr, commissioner of the Cyber Crime Investigation Bureau, said Thai officials would work with their US counterparts to review the asset seizure process and legal proceedings involving Prince Holding Group, the Bangkok Post reported. Singapore police were looking into the... https://www.scmp.com/news/asia/southeast-asia/article/3329507/thailand-singapore-investigate-chen-zhis-cambodian-group-after-western-fraud-allegations?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3329507/thailand-singapore-investigate-chen-zhis-cambodian-group-after-western-fraud-allegations?utm_source=rss_feed Sat, 18 Oct 2025 07:13:25 +0000 Xinmei Shen Xinmei Shen The seizure by US authorities of US$13.4 billion worth of bitcoin from an alleged Cambodian criminal has raised questions over the safety of the digital assets and prompted frantic speculation in the crypto community over how the feat was accomplished. Weak private keys and insider theft could have made it possible for US law-enforcement agencies to track down the bitcoin privately held by Chen Zhi, who is accused of running a massive “pig butchering” operation in Cambodia, according to experts.... https://www.scmp.com/tech/big-tech/article/3329449/how-anonymous-bitcoin-us-seizure-tycoons-us13-billion-tokens-raises-questions?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3329449/how-anonymous-bitcoin-us-seizure-tycoons-us13-billion-tokens-raises-questions?utm_source=rss_feed Fri, 17 Oct 2025 15:00:11 +0000 CNA CNA Three Singaporeans have been sanctioned for alleged links to a fraud empire involving a Cambodian conglomerate and its China-born chief executive, as part of the largest crackdown by the United States and United Kingdom on cybercriminal networks in Southeast Asia. Of the three, Chen Xiuling, also known as Karen, has resigned from her position as an independent non-executive director at Taiwan-based live streaming platform 17Live Group, based on a company announcement on the Singapore Exchange... https://www.scmp.com/news/asia/southeast-asia/article/3329287/3-singaporeans-sanctioned-over-links-cambodias-chen-zhi-scam-network?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3329287/3-singaporeans-sanctioned-over-links-cambodias-chen-zhi-scam-network?utm_source=rss_feed Thu, 16 Oct 2025 13:16:16 +0000 Agence France-Presse Agence France-Presse US and UK authorities unveiled sanctions this week against Chen Zhi, a British-Cambodian tycoon accused of running cyber scam operations where workers, some trafficked, carry out transnational fraud schemes that have netted billions of dollars. Here’s a look at the man, indicted in the US, and his sanctioned company, Prince Holding Group. Who is Prince Group’s Chen Zhi? One of Cambodia’s largest conglomerates, Prince Holding Group, has operated across more than 30 countries with interests in... https://www.scmp.com/news/asia/southeast-asia/article/3329212/who-cambodias-chen-zhi-untouchable-tycoon-linked-scam-hubs?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3329212/who-cambodias-chen-zhi-untouchable-tycoon-linked-scam-hubs?utm_source=rss_feed Thu, 16 Oct 2025 05:51:53 +0000 Associated Press Associated Press The US government has seized more than US$14 billion in bitcoin and charged the founder of a Cambodian conglomerate in a massive cryptocurrency scam, accusing him and unnamed co-conspirators of exploiting forced labour to dupe would-be investors and using the proceeds to buy yachts, jets and a Picasso painting. In an indictment unsealed on Tuesday, Brooklyn federal prosecutors charged Prince Holding Group chairman Chen Zhi with wire fraud conspiracy and money laundering conspiracy. At the same... https://www.scmp.com/news/asia/southeast-asia/article/3329046/cambodian-tycoon-exposed-mastermind-us14-billion-crypto-fraud-empire?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3329046/cambodian-tycoon-exposed-mastermind-us14-billion-crypto-fraud-empire?utm_source=rss_feed Wed, 15 Oct 2025 02:14:22 +0000 Reuters Reuters Britain and the United States on Tuesday sanctioned a Southeast Asia-based multinational network accused of operating large-scale online “scam centres” that used trafficked workers to defraud victims around the world. The British government said the centres, located in Cambodia, Myanmar and across the region, used fake job adverts to lure workers who were then forced to commit online fraud under threat of torture. This included luring victims into fake romantic relationships before persuading... https://www.scmp.com/news/asia/southeast-asia/article/3329029/uk-and-us-sanction-southeast-asian-scam-networks-exploiting-trafficked-workers?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3329029/uk-and-us-sanction-southeast-asian-scam-networks-exploiting-trafficked-workers?utm_source=rss_feed Tue, 14 Oct 2025 16:57:50 +0000