April 30, 2024
News

North Korean insurance firms dodging sanctions with foreign help: UN report

Panel of Experts lists 12 firms alleged to have worked with DPRK companies that divert profits to WMD program

North Korean insurance firms have continued to conduct business overseas in the past five years, according to information in the latest U.N. Panel of Experts report, despite concerns that their profits help fund the DPRK’s weapons of mass destruction program.

The report lists eight Nigerian firms, two Chinese firms and one each from the Ivory Coast and Lebanon that have “partnered with or knowingly assisted Korean National Insurance Company in developing business opportunities, attempting to collect money and/or facilitating financial transfers of funds — including through cryptocurrency transactions.”

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.