FinCEN is recommending a prohibition on Huione Group due to its alleged role in laundering over $4 billion from North Korean cyberattacks and Southeast Asian investment fraud.

Quotes that support claims

FinCEN submitted a proposed rulemaking that would effectively cut off Cambodia-based Huione Group and its related entities from accessing the U.S. financial market. FinCEN alleged that Huione laundered over $4 billion worth of illegal funds, including those linked to North Korean hackers.

US authorities identified Huione Group as a major player in moving illicit funds linked to both North Korea and transnational crime rings in Southeast Asia.