US Treasury Targets Cambodia’s Huione Group

U.S. Treasury Targets Cambodia’s Huione Group for Money Laundering

• The U.S. Treasury’s FinCEN proposed cutting off Huione Group from the U.S. financial system.
• Huione is identified as a “primary money laundering concern” under Section 311 of the Patriot Act.
• The group allegedly processed $4 billion in illicit proceeds from August 2021 to January 2025.
• This includes $37 million linked to North Korean cyberheists and $36 million from crypto scams.
• Huione allegedly lacked effective anti-money laundering protocols.

The U.S. Treasury Department aims to sever ties with Cambodia-based Huione Group due to its alleged involvement in laundering approximately $4 billion, including funds tied to North Korean cybercrimes and crypto scams, highlighting significant anti-money laundering deficiencies.