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Act to Counter Money Laundering and Sanctions Violations in Hong Kong

This act aims to investigate Hong Kong's role in money laundering and violations of international sanctions. It mandates an assessment of whether Hong Kong should be designated as a primary money laundering concern and an analysis of how its financial institutions comply with regulations. For citizens, this means increased transparency in international financial transactions and potential strengthening of global financial security.
Key points
Hong Kong Assessment: The U.S. government will assess if Hong Kong is a high-risk area for money laundering, potentially impacting international financial transactions.
Violation Report: A report will be created to evaluate how Hong Kong facilitates the circumvention of sanctions and export controls, which could lead to stricter regulations.
Impact on Financial Institutions: The act will examine whether local laws in Hong Kong hinder banks from adhering to global anti-money laundering standards.
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Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_1339
Sponsor: Sen. Curtis, John R. [R-UT]
Process start date: 2025-04-08
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Stop CCP Money Laundering Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_1339.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-04-08.

What are the main provisions?

Key points include:

  • Hong Kong Assessment: The U.S. government will assess if Hong Kong is a high-risk area for money laundering, potentially impacting international financial transactions.
  • Violation Report: A report will be created to evaluate how Hong Kong facilitates the circumvention of sanctions and export controls, which could lead to stricter regulations.
  • Impact on Financial Institutions: The act will examine whether local laws in Hong Kong hinder banks from adhering to global anti-money laundering standards.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Curtis, John R. [R-UT].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Economy Security Courts and Law