What does Preamble of Stop CCP Money Laundering Act of 2025 do?

This bill requires a determination and report relating to money laundering and violations of export controls and sanctions in Hong Kong. The bill was introduced in the Senate on April 8, 2025.

What does SHORT TITLE. of Stop CCP Money Laundering Act of 2025 do?

This bill is formally titled the Stop Corrupt Communist Party Money Laundering Act of 2025.

What does MEASURES TO ADDRESS MONEY LAUNDERING AND EXPORT CONTROL AND of Stop CCP Money Laundering Act of 2025 do?

This section directs the Secretary of the Treasury to determine within 180 days of the Act's enactment whether reasonable grounds exist to designate Hong Kong as a jurisdiction of primary money laundering concern. The Secretary of State, in coordination with the Secretaries of the Treasury and Commerce, must submit a report within 360 days assessing the ability of financial institutions in Hong Kong to prevent transactions facilitating transfers to Russia, Iran, and other sanctioned entities. The report should evaluate Hong Kong's role in facilitating transfers of products and technologies to adversaries of the United States and transactions violating U.S. sanctions. The report must assess whether Hong Kong's National Security Law and Safeguarding National Security Ordinance have impacted financial institutions' adherence to anti-money laundering standards. The report should describe cooperation between Hong Kong and U.S. authorities in enforcing export controls and sanctions, including any challenges.

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Stop CCP Money Laundering Act of 2025

Last updated: 4/8/2025 · Introduced: 4/8/2025

Author: John Curtis (R-UT)

TL;DR (AI)

The bill directs the Treasury Secretary to assess whether Hong Kong should be designated as a jurisdiction of primary money laundering concern.
It mandates a report evaluating Hong Kong's financial institutions' ability to prevent transactions supporting sanctioned entities and transfers of sensitive technologies.
The bill requires an assessment of how Hong Kong's national security laws affect adherence to anti-money laundering standards and cooperation with U.S. authorities.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

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