On 25th October, OFAC announced North Korea-related designations of 2 entities – Wee Tiong (S) Pte Ltd, and WT Marine Pte Ltd – and 1 individual – Tan Wee Beng. The action is said to highlight North Korea’s continued illicit use of the financial system to circumvent sanctions, and that Tan Wee Beng and his co-conspirators made deliberate efforts to launder money through the US financial system on behalf of North Korea. The targets are designated for directly or indirectly, engaged in money laundering, the counterfeiting of goods or currency, bulk cash smuggling, narcotics trafficking, or other illicit economic activity that involves or supports the Government of North Korea or any senior official thereof. Tan Wee Beng is a director and significant shareholder of Wee Tiong (S) Pte Ltd, a Singapore-based commodities trading company. WT Marine Pte Ltd is a marine fuels company closely related to Wee Tiong (S) Pte Ltd, and of which Tan Wee Beng is the Managing Director. Last year 2 vessels operated and managed by WT Marine Pte Ltd, engaged in illicit economic activity that involves or supports the Government of North Korea.