The United States has taken action by imposing sanctions on two individuals and one entity in the United Arab Emirates. These parties have been accused of participating in a network that launders millions of dollars, which are then used to support the North Korean government. The funds are generated through activities related to IT workers and cybercrimes. This move signifies the U.S. government’s commitment to combat illicit financial activities that contribute to the North Korean regime.
The U.S. Treasury Department announced
The two individuals who were sanctioned are believed to have operated through a front company based in the UAE. Their role was to facilitate money laundering and cryptocurrency conversion services, with the intention of channeling the illicit funds back to Pyongyang.
The United Nations has not received a response from North Korea’s mission regarding the comment request.
According to the Treasury, Tuesday’s move is part of Washington’s efforts to disrupt the funding of North Korea’s weapons of mass destruction and ballistic missile programs.
“In a statement, Treasury Acting Under Secretary for Terrorism and Financial Intelligence Bradley Smith emphasized the ongoing efforts to disrupt the networks that enable the flow of funds to the regime. As the DPRK persists in utilizing intricate criminal schemes to finance its WMD and ballistic missile programs, including the exploitation of digital assets, Treasury remains committed to countering these activities.”
On Tuesday, the United States took action against UAE-based Chinese nationals Lu Huaying and Zhang Jian, as well as UAE-based Green Alpine Trading LLC. The move includes freezing any U.S. assets belonging to them and imposing restrictions on Americans from engaging in transactions with them. Those who choose to conduct certain transactions with these individuals or entity may also face sanctions.
The Emirati embassy in Washington did not respond immediately to a request for comment. Contact information for Green Alpine Trading, Lu, or Zhang could not be immediately located by Reuters.