Treasury Cracks Down on Transnational Criminal Organization Behind Cyber Scam Operations Targeting Americans

WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Transnational Criminal Organization (TCO) Xinbi Guarantee, a Chinese-language platform used extensively by Chinese cybercriminals that operates a large illicit online marketplace used to support cyber scams, fraud, money laundering, and other criminal activity targeting Americans. OFAC also designated two entities that support Xinbi Guarantee’s core operations via the provision of digital currency and other financial services. This action is being taken in coordination with the Department of Justice’s Scam Center Strike Force (SCSF), which today seized infrastructure and digital asset wallets used by Xinbi Guarantee.“Scam centers in Southeast Asia steal billions of dollars from American victims each year,” said Secretary of the Treasury Scott Bessent.