North Korean Bank, Company And Individual Sanctioned By Treasury Department

0 Shares

WASHINGTON (UPI) — A bank, a front company and an official tied to North Korea’s weapons of mass destruction programs are subject to sanctions, the U.S. Treasury Department said.

Daedong Credit Bank — along with its front company DCB Finance Limited and DCB’s representative Kim Chol Sam — were designated under an executive order that targets proliferators of WMD and their supporters, the Treasury Department said Thursday in a release.

Financial operations carried out by DCB, DCB Finance Limited, and Kim Chol Sam are responsible for managing “millions of dollars” in transactions that support the North Korean regime’s “destabilizing activities,” the department said.

The Treasury Department said Son Mun San, the external affairs bureau chief of North Korea’s General Bureau of Atomic Energy, would be subject to sanctions for his work directing North Korea’s nuclear-related research efforts.

The GBAE, already under U.S. and U.N. sanctions, is responsible for North Korea’s nuclear program.

“North Korea’s dangerous and destabilizing illicit nuclear and ballistic missile program continues apace, supported by North Korean financial institutions like Daedong Credit Bank,” said David S. Cohen, undersecretary for terrorism and financial intelligence. “We are committed to increasing the sanctions pressure on North Korea until it complies with its international obligations.”

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.

Join the Discussion

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.