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

HR 3264 requires the U.S. Treasury to determine within 180 days if Hong Kong should be designated as a "jurisdiction of primary money laundering concern" under U.S. law. It also mandates a 360-day report from the State Department (with Treasury and Commerce) assessing Hong Kong's role in facilitating exports and financial transactions that violate U.S. sanctions on Russia, Iran, and other adversaries. The report must evaluate how Hong Kong enables illegal transfers of goods/technology, assess impacts of Hong Kong's National Security Law on anti-money laundering efforts, and detail U.S.-Hong Kong cooperation on enforcement. This bill directly affects U.S. financial institutions operating in Hong Kong and aims to strengthen oversight of Hong Kong's compliance with U.S. sanctions and export controls.