FinCEN Moves to Block H-Pay Service PLC, Successors from U.S. Financial System

The Financial Crimes Enforcement Network (FinCEN) has proposed a rule to sever Cambodia-based H-Pay Service PLC and its successor entities from the U.S. financial system, expanding on an October 2025 rule targeting the Huione Group.

This action by the U.S. Department of the Treasury aims to prevent the Huione Group from circumventing its exclusion from the U.S. financial system. The group has been identified as a crucial hub for laundering money from cyber heists and virtual currency investment scams.

FinCEN said the Huione Group was used to transfer and consolidate assets derived from these illicit schemes. The proposed amendment ensures that entities attempting to continue these operations under new names are also cut off.