August 09, 2020

US to forfeit $2.37 million in frozen funds from North Korea-linked entities
The unnamed companies helped the DPRK launder money via wire transfers using known North Korean entities

The United States has filed a complaint to forfeit more than $2.37 million from four different companies accused of helping North Korea illegally launder U.S. dollars, the U.S. Department of Justice (DOJ) announced on Thursday. The move is the latest in a greater global crackdown on those who assist North Korea in violating international sanctions.

The U.S. froze 20 wires connected to the four DPRK-linked companies in 2017 and 2018 after an FBI probe into sanctioned North Korean banks, the DOJ filing stated. The civil judicial forfeiture against the property allows the U.S. to forfeit the funds without bringing criminal charges against their owners.