FINANCIAL CRIMES ENFORCEMENT NETWORK ISSUES PROPOSED RULE: PROPOSED AMENDMENT TO THE DEFINITION OF HUIONE GROUP, A FINANCIAL INSTITUTION OPERATING OUTSIDE THE UNITED STATES OF PRIMARY MONEY LAUNDERING CONCERN; EXTENSION OF COMMENT PERIOD

WASHINGTON, July 24 -- Financial Crimes Enforcement Network has issued a proposed rule called: Proposed Amendment to the Definition of Huione Group, a Financial Institution Operating Outside the United States of Primary Money Laundering Concern; Extension of Comment Period.

The proposed rule was published in the Federal Register on July 24 by Jimmy L. Kirby, Deputy Director, Financial Crimes Enforcement Network.

Summary: FinCEN is extending the comment period for the referenced notice of proposed rulemaking (NPRM) it published to amend the existing definition of Huione Group to include, within the definition of that group, H-Pay Service PLC, and adding and defining the term "successor entity, " due to a technological issue with the portal...