Treasury Bans U.S. Ties with Laundering-Prone Cambodian Bank
Published Date: 10/16/2025
Rule
Summary
Starting November 17, 2025, U.S. banks can’t open or keep accounts for Huione Group, a Cambodian financial company linked to serious money laundering risks. Banks must also watch their other foreign accounts extra carefully to stop Huione-related shady money moves. This rule helps keep dirty money out of the U.S. financial system and protects honest businesses.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
U.S. Banks Barred from Huione Accounts
Starting November 17, 2025, covered U.S. financial institutions are prohibited from opening or maintaining a correspondent account for, or on behalf of, Huione Group (a foreign financial institution based in Cambodia). This is a formal special measure under section 311 of the USA PATRIOT Act that directs U.S. banks to stop correspondent-account relationships involving Huione Group.
Enhanced Due Diligence on Foreign Correspondent Accounts
As of November 17, 2025, covered U.S. financial institutions must apply special due diligence to their foreign correspondent accounts that is reasonably designed to guard against use of those accounts to process transactions involving Huione Group. The rule requires banks to monitor and apply heightened scrutiny to foreign correspondent accounts for this purpose.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-20429, Proposal of Special Measure Regarding Convertible Virtual Currency Mixing, as a Class of Transactions of Primary Money Laundering Concern; Withdrawal
FinCEN has decided to cancel its earlier plan to crack down on international virtual currency mixing by imposing extra rules to stop money laundering. This change means businesses dealing with virtual currencies won’t face new recordkeeping or reporting requirements from this proposal. The withdrawal takes effect on October 6, 2026, so affected companies can breathe easy for now.
2026-20430, Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets; Withdrawal
FinCEN is officially dropping a plan that would have made banks and money service businesses report and verify big digital currency transactions involving certain wallets. This means no new rules or extra paperwork for transactions over $3,000 or $10,000 involving unhosted or special foreign wallets. The withdrawal takes effect on October 6, 2026, so businesses can breathe easy and keep things as they are.
2026-16576, Beneficial Ownership Information Reporting Requirement Revision
FinCEN is issuing this final rule to adopt as final and with certain limited changes the interim final rule issued on March 26, 2025, which narrowed beneficial ownership information (BOI) reporting requirements under FinCEN's regulations implementing the Corporate Transparency Act (CTA). In particular, this final rule not only continues to exempt reporting companies from having to report the BOI of U.S. person beneficial owners and U.S. person beneficial owners from having to provide BOI to reporting companies; it also exempts reporting companies from having to submit information about their U.S. person company applicants to FinCEN and exempts U.S. person company applicants from any obligation to provide their information. In addition, the final rule exempts all U.S. persons from the requirement to update information already provided to FinCEN in connection with obtaining a FinCEN identifier (FinCEN ID).
2025-05199, Beneficial Ownership Information Reporting Requirement Revision and Deadline Extension
FinCEN is changing the rules about who has to share ownership info under the Corporate Transparency Act. Now, only foreign companies must report their beneficial owners, while U.S. companies are off the hook. Plus, foreign companies get more time—until March 26, 2025—to file or update their reports, making it easier and less costly to comply.
2026-20371, Proposal of Special Measure Prohibiting the Transmittal of Funds Regarding Transactions Involving the A7 Network's Sub-Agents
FinCEN wants to stop money transfers linked to the A7 Network’s sub-agents, who help shady groups like those tied to Russia and Iran move dirty money. This rule would affect banks and financial institutions by banning certain transactions to fight illegal money flows. Comments on this proposal are open until November 4, 2026, so speak up before then!
2026-18194, Geographic Targeting Order Imposing Recordkeeping and Reporting Requirements on Certain Money Services Businesses Along the Southwest Border
FinCEN is issuing this Geographic Targeting Order, requiring certain money services businesses along the southwest border of the United States to report and retain records of transactions in currency of $1,000 or more, but not more than $10,000, and to verify the identity of persons presenting such transactions.
Previous / Next Documents
Previous: 2025-19556, Airworthiness Directives; Airbus SAS Airplanes
The FAA is making a new rule for certain Airbus A330 and A320 series airplanes because pilots noticed the engines sometimes act funny during descent with the autopilot throttle on. To fix this, airlines must update the flight computer settings by October 30, 2025. This change keeps flights safer and might cost some time and money to update, but it’s worth it to avoid engine trouble.
Next: 2025-19607, Implementation of the Executive Order Entitled “Zero-Based Budgeting To Unleash American Energy”
The Federal Energy Regulatory Commission is updating some rules to include expiration dates as part of a new plan called Zero-Based Budgeting, aimed at boosting American energy. This change affects energy regulations and starts December 5, 2025, unless people send in strong objections by November 20. The goal is to make sure energy rules stay fresh, efficient, and cost-effective.