U.S. Treasury Targets Cambodia’s Huione Group Over $4B Money Laundering Allegations

BTCC / BTCC Square / Global Cryptocurrency /

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2025-05-02 04:35:03

The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has moved to isolate Cambodia-based Huione Group from the American financial system. The action, announced Thursday, cites the conglomerate as a "primary money laundering concern" under Section 311 of the Patriot Act.

Huione Group, headquartered in Phnom Penh, operates across digital payment services and crypto platforms. FinCEN alleges the organization has systematically laundered proceeds from cybercrimes for years. The Treasury now wields its full authority to disrupt financial flows to the Cambodian entity.

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