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.

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Despite public evidence of widespread abuse, Huione entities lacked visible anti-money laundering (AML) and know-your-customer (KYC) policies.
FinCEN alleges Huione operated with either absent or ineffective anti-money laundering and know-your-customer protocols. It further claims that Huione Group acknowledged deficiencies in its procedures after allegedly receiving funds indirectly connected to North Korean cyber operations.