I 
119TH CONGRESS 
1ST SESSION H. R. 3264 
To require a determination and report relating to money laundering and 
violations of export controls and sanctions in Hong Kong. 
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 con-
cerned 
A BILL 
To require a determination and report relating to money 
laundering and violations of export controls and sanc-
tions in Hong Kong. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. MEASURES TO ADDRESS MONEY LAUNDERING 
AND EXPORT CONTROL AND SANCTIONS VIO-
LATIONS 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 
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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 Sec-
retary 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 facili-
tate the transfer of products, technology, and money 
to the Russian Federation, Iran, and other countries 
and entities in violation of export controls and sanc-
tions imposed by the United States. 
(2) ELEMENTS.—The report required by para-
graph (1) include— 
(A) an evaluation of the extent of the role 
of Hong Kong in facilitating the transfer of 
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products and technologies to the Russian Fed-
eration, Iran, other countries that are adver-
saries 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 trans-
actions 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-oper-
ation between Hong Kong and United States 
authorities in enforcing export control and 
sanctions regimes. 
(c) APPROPRIATE CONGRESSIONAL COMMITTEES DE-
FINED.—In this section, the term ‘‘appropriate congres-
sional committees’’ means— 
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(1) the Committee on Foreign Relations and 
the Committee on Banking, Housing, and Urban Af-
fairs of the Senate; and 
(2) the Committee on Foreign Affairs and the 
Committee on Financial Services of the House of 
Representatives. 
Æ 
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