FinCEN Proposes Rule to Expand Definition of Huione Group, a Financial Institution of Primary Money Laundering Concern

Summary

The Financial Crimes Enforcement Network (FinCEN) is issuing a proposed rule to amend the definition of Huione Group, a financial institution believed to be operating outside the United States and posing a primary money laundering concern, to include H-Pay Service PLC and define the term 'successor entity'. The proposed rule does not alter FinCEN's assessment of Huione Group's status and the existing special measure remains in effect.