Complex web of international banks, shell companies said to help North Korea skirt sanctions

U.S. banks and regulators continue to struggle tracking and curbing money moved through international banks and companies that ultimately is used to fund the North Korean government, according to a report[1] in the The Wall Street Journal.

executive order[2] giving the Treasury Department broader powers to sanction entities that are tied to these North Korea-linked transactions. Earlier this year, the Treasury Department also released information[3] describing how North Korea uses deceptive labeling of cargo ships in order to facilitate the transfer of goods into the country.

The Wall Street Journal’s full report[4] can be found on its website (note subscription may be required).

References

  1. ^ according to a report (www.wsj.com)
  2. ^ executive order (www.whitehouse.gov)
  3. ^ also released information (www.treasury.gov)
  4. ^ The Wall Street Journal’s full report (www.wsj.com)