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Global dirty money watchdog revamps rules to battle weapons financing – U.S.

A global dirty money watchdog on Friday agreed to revamp its standards to beef up monitoring of financing aimed at evading U.S. and United Nations sanctions and proliferating weapons of mass destruction, the U.S. Treasury Department said. Endorsement of the new standards by the Financial Action Task Force (FATF) at… Read More

Anti-money laundering agency keeps Pakistan on watch list

A global anti-money laundering watchdog kept Pakistan on its monitoring list asking the South Asian nation to improve controls on terrorist financing while lauding authorities for recent progress. The Financial Action Task Force strongly urged Pakistan to complete its action plan by February, following a three-day meeting. Pakistan has largely… Read More

From smuggled coal to art: How North Korea dodges sanctions to build up nuclear arsenal

North Korea has successfully miniaturised its nuclear weapons, continues to build ballistic missiles and is using a range of ingenious means to dodge sanctions, from smuggled coal and art to dispatching workers overseas, according to the United Nations. The new UN report by monitoring experts appointed by the Security Council… Read More

30th September 2020

UK Foreign Minister ‘carefully considering’ options for sanctions against Hong Kong officials

Britain’s Foreign Minister Dominic Raab has confirmed that his government is open to the possibility of imposing sanctions against officials involved in Hong Kong’s affairs under its Global Human Rights (GHR) regime. In a letter to an MP this month, Raab condemned the disqualification of 12 pro-democracy hopefuls from standing… Read More

21st September 2020

Secret documents show how North Korea launders money through U.S. banks

North Korea carried out an elaborate money laundering scheme for years using a string of shell companies and help from Chinese companies, moving money through prominent banks in New York, according to confidential bank documents reviewed by NBC News. Wire transfers from North Korean-linked companies with opaque ownership sometimes came… Read More

16th September 2020

US charges three over North Korea sanctions violations

By Will Neal, OCCRP, 14 September 2020 OCCRP – Prosecutors in the United States have indicted three people on charges of bank fraud and money laundering related to an alleged conspiracy to violate sanctions against North Korea. According to an affidavit filed on Monday in Washington, D.C., Ri… Read More

15th September 2020

Chinese shell firms accused of helping ZTE sell American tech to North Korea

The United States has accused two Chinese shell companies of helping China’s technology giant ZTE sell banned telecommunications equipment to North Korea. According to a criminal complaint unsealed on Friday, Ryer International Trading and Rensy International Trading served as go-betweens for ZTE, which sold the equipment – allegedly made… Read More

8th September 2020

China complicit in bypassing UN sanctions to launder North Korean money, report suggests

A new investigation into companies trading in the Chinese city of Dandong, on the border with North Korea, has shed a spotlight on Pyongyang’s global money laundering networks and raised fresh questions about China’s complicity in bypassing United Nations sanctions against Kim Jong-un’s regime. “The Billion Dollar Border Town,” a… Read More

31st August 2020

Essentra says it’s in the clear after sanction breaches

A FTSE 250 cigarette products supplier that has been under investigation by United States authorities over possible sanctions breaches is not expecting a second fine. Essentra agreed to pay a £530,000 fine for sanctions violations in North Korea last month but the US Treasury Department’s Office of Foreign Assets Control… Read More

28th August 2020

U.S. Moves to Seize Cryptocurrency Accounts Linked to North Korean Heists

U.S. authorities on Thursday moved to seize 280 cryptocurrency accounts they said were used by North Korean hackers who stole more than a quarter of a billion dollars from cryptocurrency companies around the world, including one in the U.S. The U.S. Justice Department said the accounts targeted in the civil… Read More

27th August 2020

North Korean hackers use LinkedIn for cryptocurrency heist, report reveals

Hackers linked to North Korea have used LinkedIn as part of a major heist to steal cryptocurrency, new research has revealed. The notorious Lazarus Group, which was behind the 2014 cyber attacks on Sony, carried out an attack against a cryptocurrency organisation using a tailored job advert posted… Read More

24th August 2020

Pakistan issues orders enforcing UN sanctions on Taliban

AP – Pakistan has issued sweeping orders enforcing financial sanctions against Afghanistan’s Taliban, just as the militant group is in the midst of a U.S.-led peace process in the neighboring country. Pakistan’s foreign ministry in a statement late on Saturday said the sanctions are not new but rather are… Read More

6th August 2020

UN experts: North Korea flouts sanctions on nukes, missiles

AP — U.N. experts say North Korea is flouting U.N. sanctions by expanding its nuclear arsenal and ballistic missile program and by exporting coal and illegally importing refined petroleum products in excess of its annual quota. The experts said in key sections of a report obtained Tuesday by The… Read More

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