Regulatory Alerts2026-06-23
Proposed Amendment to the Definition of Huione Group, a Financial Institution Operating Outside the United States of Primary Money Laundering Concern
The Financial Crimes Enforcement Network proposes amending the regulatory definition of Huione Group, a Cambodian-based financial conglomerate designated as a primary money laundering concern, to explicitly include H-Pay Service PLC. This notice of proposed rulemaking adds a definition for "successor entity" to prevent evasion of existing special measures while maintaining the prohibition on U.S. financial institutions opening correspondent accounts for the group. The action addresses Huione Group's role in laundering proceeds from cybercrimes and investment scams through its coordinated network of subsidiaries and components.
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