US Sanctions Company In UAE Involved In Money Laundering For North Korea

UNSPLASH ILLUSTRATION/Pepi Stojanovski

JAKARTA - The United States has imposed sanctions on two people and one company based in the United Arab Emirates.

They are accused of America of being involved in a network that launders millions of dollars generated by IT workers and cybercrimes to support North Korea's government programs.

The US Treasury Department said the two sanctioned people worked through a UAE-based company to facilitate money laundering and cryptocurrency conversion services and distribute illegal returns back to Pyongyang.

The sanctions were taken as Washington seeks to cut funding for North Korea's weapons of mass destruction and ballistic missile programs.

"As the DPRK continues to use complex criminal schemes to fund weapons of mass destruction and ballistic missiles, including through the exploitation of digital assets, the Treasury Department remains focused on disrupting networks that facilitate the flow of funds to the regime," said Acting Deputy Finance Minister for North Korea Terrorism and Finance Intelligence. Bradley Smith reported by Reuters, Tuesday, December 17.

Sanctions target UAE-based Chinese citizens Lu Huaying and Zhang Jian, as well as UAE-based Green Alpine Trading LLC.

US sanctions freeze all of their assets in the US and generally prohibit Americans from dealing with them. Those who carry out certain transactions with those subject to sanctions are also at risk of being subject to the same thing.