II
119THCONGRESS
1
STSESSION S. 1339
To require a determination and report relating to money laundering and
violations of export controls and sanctions in Hong Kong.
IN THE SENATE OF THE UNITED STATES
APRIL8, 2025
Mr. C
URTIS(for himself and Mr. MERKLEY) introduced the following bill;
which was read twice and referred to the Committee on Banking, Hous-
ing, and Urban Affairs
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-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘Stop Corrupt Com-4
munist Party Money Laundering Act of 2025’’ or the 5
‘‘Stop CCP Money Laundering Act of 2025’’. 6
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•S 1339 IS
SEC. 2. MEASURES TO ADDRESS MONEY LAUNDERING AND 1
EXPORT CONTROL AND SANCTIONS VIOLA-2
TIONS IN HONG KONG. 3
(a) D
ETERMINATION WITHRESPECT TOMONEY 4
L
AUNDERING.—Not later than 180 days after the date of 5
the enactment of this Act, the Secretary of the Treasury 6
shall submit to the appropriate congressional committees 7
a determination, including a detailed justification, of 8
whether reasonable grounds exist for designating the 9
Hong Kong Special Administrative Region of the People’s 10
Republic of China as a jurisdiction of primary money laun-11
dering concern under section 5318A of title 31, United 12
States Code. 13
(b) R
EPORT ONROLE OFHONGKONG INEXPORT 14
C
ONTROL ANDSANCTIONSVIOLATIONS.— 15
(1) I
N GENERAL.—Not later than 360 days 16
after the date of the enactment of this Act, the Sec-17
retary of State, in coordination with the Secretary of 18
the Treasury and the Secretary of Commerce, shall 19
submit to the appropriate congressional committees 20
a report assessing the ability of United States and 21
foreign financial institutions operating in Hong 22
Kong to identify and prevent transactions that facili-23
tate the transfer of products, technology, and money 24
to the Russian Federation, Iran, and other countries 25
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•S 1339 IS
and entities in violation of export controls and sanc-1
tions imposed by the United States. 2
(2) E
LEMENTS.—The report required by para-3
graph (1) shall include— 4
(A) an evaluation of the extent of the role 5
of Hong Kong as an international financial and 6
trading center in facilitating, knowingly or un-7
knowingly— 8
(i) the transfer of products and tech-9
nologies to adversaries of the United 10
States, including the Russian Federation, 11
Iran, the mainland of the People’s Repub-12
lic of China, and other countries in viola-13
tion of export controls imposed by the 14
United States; and 15
(ii) trade and financial transactions 16
that violate sanctions imposed by the 17
United States on the Russian Federation, 18
Iran, and other countries and entities; 19
(B) an assessment of whether the People’s 20
Republic of China’s 2020 National Security 21
Law and the January 2024 Safeguarding Na-22
tional Security Ordinance of Hong Kong have 23
limited the ability of financial institutions oper-24
ating in Hong Kong to adhere to global stand-25
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ards for anti-money laundering and know-your- 1
customer procedures; and 2
(C) a description of cooperation between 3
Hong Kong and United States authorities in 4
enforcing export control and sanctions regimes, 5
including any challenges to such cooperation. 6
(c) A
PPROPRIATECONGRESSIONALCOMMITTEESDE-7
FINED.—In this section, the term ‘‘appropriate congres-8
sional committees’’ means— 9
(1) the Committee on Foreign Relations and 10
the Committee on Banking, Housing, and Urban Af-11
fairs of the Senate; and 12
(2) the Committee on Foreign Affairs and the 13
Committee on Financial Services of the House of 14
Representatives. 15
Æ
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