US Treasury and UAE target North Korean digital asset launderers
Two Chinese citizens and a UAE trading company have been sanctioned by the United States for their alleged roles in money laundering for North Korea.
The United States Treasury Department’s Office of Foreign Assets Control (OFAC) has worked closely with the government of the United Arab Emirates to impose sanctions on actors it accuses of enabling North Korean digital asset laundering.
OFAC has sanctioned two Chinese citizens — Lu Huaying and Zhang Jian — and UAE-based Green Alpine Trading for their alleged parts in cryptocurrency conversion and the laundering of funds that were subsequently sent to the Democratic People’s Republic of Korea.
Acting Treasury Under Secretary for Terrorism and Financial Intelligence Bradley T. Smith said in a statement:
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Author: Derek Andersen
