U.S. lawmakers have raised concerns that Hong Kong is becoming a hub for financial crimes, including money laundering, sanctions evasion, and the reported funneling of banned technology to Russia. They have urged Treasury Secretary Janet Yellen to reassess the U.S.'s banking ties with the city. The lawmakers, part of a bipartisan group, have accused Hong Kong of facilitating violations of U.S. trade controls and playing a critical role in an 'authoritarian axis' involving China, Iran, Russia, and North Korea. This follows reports of Hong Kong's increasing role in these illicit financial activities, prompting calls for a reevaluation of its financial and banking policies.