FinCEN Proposes to Sever H-Pay Service PLC and Other Huione Group Successor Entities from the U.S. Financial System

Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a proposed rule amending FinCEN’s October 2025 Huione Group Final Rule to include Cambodia-based H-Pay Service PLC and any successor entity. Huione Group served as a critical node for laundering proceeds of cyber heists and virtual currency investment scams and was used to transfer and consolidate scam-derived assets. This action guards against Huione Group’s attempts to circumvent being cut off from the U.S. financial system.

Treasury Press Release

• Treasury Further Dismantles Overseas Scam Operations Targeting Americans 

Notice of Proposed Rulemaking

• Proposed Amendment to the Definition of Huione Group, a Financial Institution Operating Outside the United States of Primary Money Laundering Concern