By Tom Wilson
THE U.S. Treasury plans to ban Cambodian financial firm Huione Group from the U.S. financial system, deeming it of “primary money laundering concern” over its alleged role in laundering illicit funds from cyber heists and online scams.
The Treasury’s Financial Crimes Enforcement Network (FinCEN) said that it had proposed severing Huione’s access to the U.S. financial system by outlawing U.S. firms from opening or maintaining correspondent banking accounts for or on behalf of Huione.
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