US imposes sanctions on individuals financing program of creating weapons in DPRK
The US has imposed sanctions on individuals who finance support for programs to create weapons of mass destruction in North Korea, according to the US Department of the Treasury.
The US, together with South Korea, has imposed sanctions on six individuals and two entities based in Russia, China, and the United Arab Emirates, which generate income for North Korea.
"Funds generated through these actors are ultimately funneled to support the DPRK’s weapons of mass destruction (WMD) programs," the US Treasury Department said.
Today's actions target agents of certain North Korean banks, as well as companies that hire IT workers from North Korea abroad.
IT workers and the companies that hire them, primarily operating through networks located in Russia and China, organize schemes, create front companies, and manage secret bank accounts to move and conceal illegal funds, evade sanctions, and finance North Korea's illegal programs to develop weapons of mass destruction and ballistic missiles.
"Today’s joint action reflects our commitment to disrupt the DPRK’s efforts to generate revenue for its illicit and destabilizing activities. The US, along with our South Korean partners, will continue to take action to safeguard the international financial system and prevent the DPRK from funding its illegal weapons programs," said Brian E. Nelson, Deputy Assistant Secretary of the Treasury for Counterterrorism and Financial Intelligence.
