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U.S. Treasury Secretary Scott Bessent stated that Huione Group serves as a central financial enabler for cybercriminals and North Korean hackers.
The proposed rule issued by FinCEN in May 2025, to designate Huione Group as a primary money laundering concern under Section 311 of the Patriot Act is subject to a 30-day public comment period before it can be finalized and enforced.
FinCEN’s investigation into Huione Group’s $4 billion laundering operation found that the conglomerate failed to implement visible anti-money laundering (AML) and know-your-customer (KYC) policies, allowing suspicious transactions, including those tied to North Korean cyberattacks to go undetected.
FinCEN proposed a rule in May 2025 that aims to prohibit U.S. financial institutions from maintaining accounts for Cambodia-based Huione Group, effectively severing its access to the global banking infrastructure in order to disrupt its role in laundering illicit funds linked to cybercrime and fraud.

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