To require a determination and report relating to money laundering and violations of export controls and sanctions in Hong Kong.
Sponsored By: Representative Wilson, Joe [R-SC-2]
Introduced
Summary
Strengthen oversight of Hong Kong's role in money laundering and export-control evasion. This bill would force U.S. agencies to produce a formal Treasury determination and a joint agency report about whether Hong Kong facilitates illicit transfers that violate U.S. export controls and sanctions.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Reviews of Hong Kong laundering and sanctions
This bill would order two reviews about Hong Kong. Within 180 days, Treasury would tell Congress if there are reasonable grounds to label Hong Kong a primary money-laundering concern, and explain why. Within 360 days, State, with Treasury and Commerce, would report on whether banks in Hong Kong can spot and stop deals that help Russia, Iran, or others break U.S. export and sanctions rules. The report would also review Hong Kong’s role in moving goods and tech to those places and to mainland China, whether Hong Kong’s National Security Law weakens anti-money-laundering and know-your-customer checks, and how well Hong Kong works with U.S. agencies.
Sponsors & CoSponsors
Sponsor
Wilson, Joe [R-SC-2]
SC • R
Cosponsors
Rep. Panetta, Jimmy [D-CA-19]
CA • D
Sponsored 5/7/2025
Rep. Suozzi, Thomas R. [D-NY-3]
NY • D
Sponsored 6/9/2025
Del. Moylan, James C. [R-GU-At Large]
GU • R
Sponsored 7/21/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov