"The Treasury Department stated that since August 2021, Huione Group and its affiliates had laundered $4 billion for a mix of criminals, including North Korean hackers."
"Huione Group serves as a significant node in the money-laundering ecosystem, enabling online scammers to move illicit funds overseas while evading law enforcement."
The Trump administration's Treasury Department has designated Huione Group, a Cambodian financial conglomerate, as a money-laundering operation, marking a crucial move to restrict its access to the American financial system. The designation is a response to a report indicating that Huione and its affiliates laundered $4 billion since August 2021 for criminals, including North Korean hackers and Southeast Asian scammers. Investigations suggest that the group is a central player in a vast money laundering network, facilitating online scams by allowing perpetrators to evade law enforcement and bank anti-laundering measures.
Read at www.nytimes.com
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