As part of President Trump's mission to combat cybercrime, fraud, and predatory schemes against American citizens, the United States is sanctioning Xinbi Guarantee-a Chinese-language platform used extensively by transnational criminal organizations and money laundering networks behind cyber scam operations targeting Americans-along with two entities that supported Xinbi Guarantee's core operations. These sanctions are being implemented by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC).
Scam centers in Southeast Asia steal billions of dollars from American victims each year. Xinbi Guarantee operates a large illicit online marketplace that is used to support cyber scams, fraud, money laundering, and other criminal activity targeting Americans. The Trump Administration will not let insidious criminal networks prey on the American people-cybercrime, fraud, and predatory schemes end here.
Today's actions were taken in furtherance of Executive Order (E.O.) 14390 "Combating Cybercrime, Fraud, and Predatory Schemes Against American Citizens" and pursuant to E.O. 13581 "Blocking Property of Transnational Criminal Organizations," as amended by E.O. 13863.
