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The Incredible Rise of North Korea’s Hacking Army

By Ed Caesar, The New Yorker, 19 April 2021 The New Yorker — Shimomura was a member of the Yamaguchi-gumi, the largest yakuza crime family in Japan. When one of his superiors asked him if he wanted to make a pile of fast money, he… Read More

UK adds Pakistan to 21 high-risk states list

The UK government has added Pakistan to the list of undesirable 21 high-risk countries with unsatisfactory money laundering and terrorist financing controls. This list of 21 countries — released by the UK Government — replicates the list of countries named by the Financial Action Task Force (FATF) as high-risk or… Read More

Japan extends its own North Korean sanctions another 2 years

AP — Japan extended its own sanctions against North Korea for another two years as Pyongyang continues to develop its nuclear weapons without any progress in resolving the abductions of Japanese nationals. Japan bans all trade between the countries and prohibits North Korean-registered ships from entering… Read More

29th March 2021

South Korea’s Moon calls for all-out efforts to fight real estate corruption

President Moon Jae-in on Monday pledged all-out efforts to fight real estate corruption, especially among public officials, as he chaired an emergency session of the government’s Anti-Corruption Policy Consultative Council for Fair Society. The meeting was attended by the ministers of finance, justice and interior, as well as the head… Read More

25th March 2021

How Illicit Oil Is Smuggled Into North Korea With China’s Help

On a sunny, early morning in January, the oil tanker New Konk moved into a shipyard in China’s Fujian province for repairs. It was an otherwise routine event, but for two details. First, the ship’s operators transmitted a false ship name, a deceptive practice often used to disguise a vessel’s… Read More

24th March 2021

Mun Chol-myong: North Korean ‘whisky spy’ goes on trial for money laundering

An alleged spy has become the first North Korean to go on trial in America, on charges of covering up the smuggling of wine, whisky, cognac and cigarettes destined for the elite circle surrounding Kim Jong-un. Mun Chol-myong, 55, appeared in court in Washington after his arrest in Malaysia, where… Read More

18th February 2021

U.S. Calls North Korean Hackers ‘World’s Leading Bank Robbers’

North Korea was accused of being behind the 2014 hack of an internal computer network of Sony Pictures Entertainment Inc., an audacious attack that exposed Hollywood secrets and destroyed company data. On Wednesday, U.S. officials said that was only the beginning. In indicting three North Korean computer programmers… Read More

9th February 2021

North Korean hackers stole more than $300 million to pay for nuclear weapons: U.N.

North Korea‘s army of hackers stole hundreds of millions of dollars throughout much of 2020 to fund the country’s nuclear and ballistic missile programs in violation of international law, according to a confidential United Nations report. The document accused the regime of leader Kim Jong Un of conducting “operations… Read More

8th February 2021

Biden Weighs Easing Iran’s Pain Without Lifting Key Sanctions

The Biden administration is weighing ways to ease Iran’s financial pain without lifting crushing economic sanctions — including on oil sales — as a step toward reviving the 2015 nuclear deal abandoned by former President Donald Trump. Some options U.S. officials are debating include providing backing for International Monetary Fund… Read More

20th January 2021

Indonesian Company Breaches US Sanctions on North Korea, Pays $2.6 Million

By Sadie Brown, OCCRP, 19 January 2021 OCCRP — An Indonesia-based global cigarette paper supplier agreed to pay nearly US$2.6 million in fines for conspiracy to commit bank fraud and violating U.S. sanctions on North Korea, according to official statements. PT Bukit Muria Jaya (BMJ) admitted to… Read More

19th January 2021

EU sets out plans to limit US dollar reliance, reduce sanctions risks

The European Union has set out plans to strengthen the international role of the euro, as its seeks to erode the dominance on the U.S. dollar and lessen the bloc’s vulnerability to financial risks, including U.S. sanctions. The plan includes measures to help protect against currency shocks, and allow greater… Read More

4th January 2021

As Illicit Shipping Becomes More Prevalent, How Banks Can Best Respond

The maritime sanction compliance advisories published by the United Nations Security Council Panel of Experts for North Korea, the US Department of Treasury’s Office of Foreign Assets Control (OFAC) in May 2020 and the UKs Office of Financial Sanctions Implementation (OFSI) in July 2020, have all added to the growing… Read More

10th December 2020

Trump Set Record Sanctions Use That Biden Is Likely to Maintain

The Trump administration has imposed sanctions at a record-shattering pace of about three times a day during the president’s time in office: a slew of measures targeting companies, individuals and even oil tankers tied to Iran, North Korea, China, Venezuela and Russia. President-elect Joe Biden’s team is promising a top-to-bottom… Read More

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