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HR.3264 · 119TH CONGRESS

To require a determination and report relating to money laundering and violations of export controls and sanctions in Hong Kong.

Status
In Committee
Sponsor
Wilson, Joe (R-South Carolina)
Official Source
Investability
0/100
Stage
COMMITTEE
Related Bills
0
Full Text
3,512 chars
Alive
Yes

What This Bill Does · Plain English

Summary
Plain-English summary not yet available for this bill. Check back after our next analysis run.

Action Timeline

2025-05-07
Introduced in House
2025-05-07
Referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdicti
2025-05-07
Introduced in House

Frequently Asked Questions

Did HR.3264 pass?
HR.3264 is still alive. Current stage: COMMITTEE. Pass likelihood: pending.
Who sponsored HR.3264?
HR.3264 was sponsored by Joe Wilson (R-South Carolina).

Full Bill Text

119 HR 3264 IH: To require a determination and report relating to money laundering and violations of export controls and sanctions in Hong Kong. U.S. House of Representatives 2025-05-07 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I 119th CONGRESS 1st Session H. R. 3264 IN THE HOUSE OF REPRESENTATIVES May 7, 2025 Mr. Wilson of South Carolina (for himself and Mr. Panetta ) introduced the following bill; which was referred to the Committee on Financial Services , and in addition to the Committee on Foreign Affairs , for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To require a determination and report relating to money laundering and violations of export controls and sanctions in Hong Kong. 1. Measures to address money laundering and export control and sanctions violations in Hong Kong (a) Determination with respect to money laundering Not later than 180 days after the date of the enactment of this Act, the Secretary of the Treasury shall submit to the appropriate congressional committees a determination, including a detailed justification, of whether reasonable grounds exist for concluding that the Hong Kong Special Administrative Region of the People’s Republic of China should be designated as a jurisdiction of primary money laundering concern under section 5318A of title 31, United States Code. (b) Report on role of Hong Kong in export control and sanctions violations (1) In general Not later than 360 days after the date of the enactment of this Act, the Secretary of State, in coordination with the Secretary of the Treasury and the Secretary of Commerce, shall submit to the appropriate congressional committees a report assessing the ability of United States and foreign financial institutions operating in Hong Kong to identify and prevent transactions that facilitate the transfer of products, technology, and money to the Russian Federation, Iran, and other countries and entities in violation of export controls and sanctions imposed by the United States. (2) Elements The report required by paragraph (1) include— (A) an evaluation of the extent of the role of Hong Kong in facilitating the transfer of products and technologies to the Russian Federation, Iran, other countries that are adversaries of the United States, and the mainland of the People’s Republic of China, in violation of export controls imposed by the United States; (B) an evaluation of the role of Hong Kong in facilitating trade and financial transactions that violate sanctions imposed by the United States on the Russian Federation, Iran, and other countries and entities; (C) an assessment of whether the National Security Law of Hong Kong has limited the ability of financial institutions to adhere to global standards for anti-money laundering and know-your-customer procedures; and (D) a description of the level of co-operation between Hong Kong and United States authorities in enforcing export control and sanctions regimes. (c) Appropriate congressional committees defined In this section, the term appropriate congressional committees means— (1) the Committee on Foreign Relations and the Committee on Banking, Housing, and Urban Affairs of the Senate; and (2) the Committee on Foreign Affairs and the Committee on Financial Services of the House of Representatives.
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Bill text sourced from GovInfo.gov · public domain · last updated 2026-10-12. Plain-English summary, score breakdown, and trading-intelligence panels are GovGreed-original analysis derived from STOCK Act filings, SEC Form 4 disclosures, FEC contributions, and Senate LDA lobbying reports — all publicly filed federal records. GovGreed is not affiliated with the U.S. Government. Not financial advice. [live render]