US sanctions Cambodia's Prince Group, Canadian firms over Iran

· Security · United States · Canada

The US imposed sanctions on Cambodia's Prince Group over online scams, targeting a conglomerate Washington says is tied to large-scale fraudulent operations that often ensnare trafficking victims. Separately, the US Treasury sanctioned eight money services firms based in Canada over allegations that they enabled international transactions involving sanctioned Iranian entities. The measures expand Washington's use of financial sanctions to pressure networks linked to cyber-fraud and to Iran, and they come as the US pushes allies and partners to tighten enforcement.

Why it matters：The sanctions show Washington widening its financial toolkit against scam networks and Iran-related transactions, with implications for banks and firms in third countries.

Key points

  • Prince Group was sanctioned over online scams.
  • Eight Canadian money services firms were hit over Iran transactions.
  • The Treasury announced the Canadian measures on Friday.

Sources (original reporting)

More stories from this day