U.S. Imposes Sanctions on an Entity and Individuals Contributing to Democratic People’s Republic of Korea Virtual Currency Money Laundering Network – United States Department of State
The United States is imposing sanctions on two individuals and one entity pursuant to Executive Order (E.O.) 13382, which targets proliferators of weapons of mass destruction and their means of delivery. Today’s sanctions are a part of ongoing efforts to disrupt the Democratic People’s Republic of Korea’s (DPRK) money laundering operations, which finance the regime’s unlawful weapons of mass destruction and ballistic missile programs.
Lu Huaying and Zhang Jian are United Arab Emirates (UAE)-based People’s Republic of China (PRC) nationals who acted as agents to facilitate money laundering and cryptocurrency conversion services for the benefit of DPRK or its proxies. Green Alpine Trading, LLC is a UAE-based front company involved in laundering millions of dollars for this network. This money laundering network is led by Sim Hyon Sop (Sim), a DPRK banking representative who was previously designated by the United States and was previously based in the UAE. Sim has continued his operations from his current location in the PRC.
The United States will continue to act against proliferation and associated money laundering activities of concern.
The Department of the Treasury actions today were taken pursuant to Executive Order 13382. For more information on today’s action, see Treasury’s press release.
