Washington, D.C. – The United States has taken action against individuals and entities involved in a North Korean money laundering network. The U.S. Treasury Department imposed sanctions on two individuals and one entity linked to the Democratic People’s Republic of Korea (DPRK) for their role in facilitating illicit financial activities.
The sanctioned individuals, Lu Huaying and Zhang Jian, both Chinese nationals based in the United Arab Emirates (UAE), were identified as key players in laundering money for the DPRK. They worked closely with Sim Hyon Sop, a designated North Korean banking official, to convert cryptocurrency into traditional currency.
Green Alpine Trading, a UAE-based company, was also sanctioned for its involvement in the money laundering network. The company is believed to have laundered millions of dollars on behalf of the DPRK.
The U.S. government remains committed to disrupting North Korea's illicit activities, including its nuclear weapons and ballistic missile programs. By targeting these individuals and entities, the U.S. aims to hinder the DPRK's ability to finance its weapons programs and destabilize the region.
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