Cybersecurity

US Sanctions Online Scammers Who Stole Billions From US Victims

Online scams have taken more than $16 billion in the US in recent years.

Photographer: Sean Gallup/Getty Images

The Trump administration sanctioned more than a hundred companies and individuals in Southeast Asia linked to online investment scams that have fleeced US victims of billions of dollars in recent years.

The Treasury Department — in collaboration with the UK — imposed sanctions Tuesday on entities linked to Cambodia-based Prince Holding Group, which it alleged was a sprawling criminal network targeting Americans.