The United States and the United Kingdom have launched their most significant joint operation to combat cybercriminal networks operating out of Southeast Asia, focusing on crypto-related money laundering schemes and online scams. The action targets two major organizations—Cambodia’s Prince Group Transnational Criminal Organization (TCO) and Huione Group—with sanctions from the U.S. Treasury’s Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN). The networks, authorities claim, laundered over $4 billion in illicit crypto and fiat proceeds between 2021 and 2025, with links to North Korean cyberheists and Southeast Asian “pig butchering” scams. This crackdown comes amidst a surge in online investment scams that have cost U.S. consumers over $16.6 billion since 2023.