The National Bank of Cambodia (NBC) has announced that it is taking the necessary measures to ensure the normal operation of customer accounts at Prince Bank, after a rise in customer complaints and cash withdrawals was observed following the news of US and UK sanctions on Prince Bank and its parent company, Prince Holding Group.

In a release issued on October 18, 2025, the NBC stated that it would like to reassure the public that “all banking and financial institutions in Cambodia are under strict precautionary measures and have sufficient liquidity to meet the cash needs of customers”.

The statement stresses that the competent authorities have been taking careful monitoring and investigation measures to ensure that Prince Bank complies with Cambodian laws, adding that the NBC is specifically taking the necessary measures to ensure the safety of customer funds.

A bank run was sparked at Prince Bank after the US Department of Treasury’s Office of Foreign Assets Control and UK’s Foreign, Commonwealth and Development Office announced sweeping sanctions on 146 individuals and entities tied to Prince Bank’s parent company, Prince Holding Group.

Describing Prince Group as a “transnational criminal organisation", the US and UK allege the company and its leadership are involved in the operation of online scam compounds that perpetrate fraudulent cryptocurrency investment schemes. At present, the US Department of Justice has seized USD 15 billion worth of Bitcoin linked to the group, while the UK has also frozen assets owned by the network, including a USD 116 million office building in London.

The Cambodian Interior Ministry has stated that Prince Holding Group met all legal requirements to operate in Cambodia and has been treated no differently than other major companies investing in the country. Ministry spokesperson, Touch Sokhak, stressed to the Associated Press (AP) that Cambodia does not protect individuals who violate the law, however, added that the government itself does not accuse Prince Holding Group, or its Chairman, Chen Zhi, of wrongdoing.



By B2B Cambodia on Oct, 20 2025