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



News 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 Min Chao Choy September 1, 2020 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON NK News \| Customers at a bank in Pyongyang in 2018. 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. 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. Become a member for less than $5.75 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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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

Min Chao Choy September 1, 2020

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

NK News | Customers at a bank in Pyongyang in 2018.

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.

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

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