Sanctions Announced The U.S.
Treasury Department’s Office of Foreign Assets Control (OFAC) announced that it has imposed sanctions on Xinbi Guarantee, a China‑based company, for its involvement in cyber‑fraud and money‑laundering schemes.
Details of the Sanctions The sanctions include a freeze on all assets held by Xinbi Guarantee within the United States and a prohibition on U.S.
persons from conducting any transactions with the platform.
The measures are intended to curb the company’s ability to facilitate illicit financial flows.
Coordination with the U.S.
Justice Department These actions are being carried out in coordination with the U.S.
Department of Justice’s Fraud Center Special Task Force (SCSF).
The two agencies are working together to limit the international operations of Chinese cyber‑crime networks.
Treasury Secretary’s Statement "Fraud centers operating in Southeast Asia steal billions of dollars from American victims every year," said Treasury Secretary Scott Bessent.
"The Trump administration is committed to dismantling these foreign criminal organizations."
US Imposes Sanctions on China‑Based Xinbi Guarantee Over Cyber Fraud
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has sanctioned Xinbi Guarantee for cyber‑fraud and money‑laundering activities, freezing its assets and banning U.S. persons from transacting with the company.
Sources
- Paratic Haber · baglanti