Company pleads guilty to helping North Korea illegally use US banking system | NK News
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October 08, 2026Oct 08, 2026

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Company pleads guilty to helping North Korea illegally use US banking system

The British Virgin Islands-registered Yang Ban Corporation will pay over $673,000 in financial penalties

A company registered in the British Virgin Islands, Yang Ban Corporation, pleaded guilty to charges including conspiracy to launder money for North Korean clients and front companies, according to the U.S. Department of Justice.

It’s the latest development in a series of law enforcement actions against the DPRK meant to enact a chilling effect on sanctions violators, and it follows a recent spate of U.S. moves against North Korea-linked cybercrime as well.

In an Aug. 31 news releaseissued by the Justice Department, the U.S. government stated that the Yang Ban Corporation admitted to coordinating with North Korean clients