On 22nd March, the Washington Post carried a feature re rising concern over Hong Kong’s role as a nexus for North Korea’s underground business network, which has led the US government to urge Hong Kong authorities to crack down. The corporate registration agents that set up front companies “present a key vulnerability in the implementation of financial sanctions,” said a report by the United Nations Panel of Experts on North Korean sanctions released on March 16th. Out of 11 companies based outside North Korean named in a US Treasury sanctions list last month, 2 each were in China and Taiwan and 1 each in Singapore and Panama. The remaining 5 were in Hong Kong.
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