The U.S. government has officially labeled a Cambodian financial conglomerate as a facilitator of money laundering, marking a key move to block its access to American financial networks.
Since August 2021, Huione Group and its associated companies are reported to have laundered more than $4 billion for various criminal enterprises, including North Korean hackers and Southeast Asian fraudsters.
The Treasury Department described Huione Group as a central player within the global money laundering infrastructure.
An extensive investigation revealed that Huione’s network is deeply involved in international schemes where scammers use the company’s services to transfer illicit funds across borders while evading detection by law enforcement and banking compliance teams.
The newly proposed regulations represent the most decisive action taken against Huione, which has long operated with minimal oversight and ties to one of the largest illegal marketplaces worldwide.
Attempts to obtain a response from Huione Group have so far been unsuccessful.
