US INDICTS CHINESE AND NORTH KOREANS AND ACCUSES STATE-OWNED BANK OF EVADING SANCTIONS

On 28 May, Reuters reported that the US DoJ has accused North Korea’s state-owned bank, the Foreign Trade Bank, of evading US sanctions laws and charged 28 North Korean and 5 Chinese citizens with committing money laundering, bank fraud and other crimes. The bank is accused of processing at least $2.5 billion in illegal payments using over 250 front companies.

https://uk.reuters.com/article/usa-northkorea-sanctions/u-s-indicts-north-koreans-accuses-state-owned-bank-of-evading-sanctions-idUKL1N2DA1Y7?rpc=401&

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section View all posts by raytodd2017