U.S. indicts 28 North Koreans for role in $2.5 billion money laundering plot



News U.S. indicts 28 North Koreans for role in $2.5 billion money laundering plot DPRK established network of covert bank branches around world to funnel money back home, Department of Justice says Jacob Fromer May 28, 2020 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON NK News North Korea engaged in a "multi-year scheme" to evade global financial sanctions and funnel $2.5 billion from abroad into the country, the U.S. Department of Justice alleged in a new criminal indictment unsealed on Thursday. The allegations state that 33 individuals -- five Chinese nationals and 28 North Koreans -- engaged in a sprawling plot across a half-dozen countries to open covert branches of a major North Korean bank, illegally access potentially billions of dollars in hard currency, and siphon the funds back to the DPRK. North Korea engaged in a "multi-year scheme" to evade global financial sanctions and funnel $2.5 billion from abroad into the country, the U.S. Department of Justice alleged in a new criminal indictment unsealed on Thursday. The allegations state that 33 individuals -- five Chinese nationals and 28 North Koreans -- engaged in a sprawling plot across a half-dozen countries to open covert branches of a major North Korean bank, illegally access potentially billions of dollars in hard currency, and siphon the funds back to the DPRK. Become a member for less than $4 per week. Unlimited access to all of NK News: reporting, investigations, analysis The NK News Daily Update, an email newsletter to keep you in the loop Searchable archive of all content, photo galleries, special columns Contact NK News reporters with tips or requests for reporting Get unlimited access to all NK News content, including original reporting, investigations, and analyses by our team of DPRK experts. Subscribe now All major cards accepted. No commitments – you can cancel any time. © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. Get the Daily Update Start your day with the North Korea stories that matter most – as selected by And how should we address you in correspondence? One more step! Please check your inbox, for an email we just sent you, and click on the confirmation message in it to get subscribed to our Daily News Update. Trending

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U.S. indicts 28 North Koreans for role in $2.5 billion money laundering plot

DPRK established network of covert bank branches around world to funnel money back home, Department of Justice says

Jacob Fromer May 28, 2020

U.S. indicts 28 North Koreans for role in $2.5 billion money laundering plot

NK News

North Korea engaged in a "multi-year scheme" to evade global financial sanctions and funnel $2.5 billion from abroad into the country, the U.S. Department of Justice alleged in a new criminal indictment unsealed on Thursday.

The allegations state that 33 individuals -- five Chinese nationals and 28 North Koreans -- engaged in a sprawling plot across a half-dozen countries to open covert branches of a major North Korean bank, illegally access potentially billions of dollars in hard currency, and siphon the funds back to the DPRK.