Complex web of international banks, shell companies, helps North Korea gain access to funds, WSJ reports

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Complex web of international banks, shell companies, helps North Korea gain access to funds, WSJ reports

In this handout image provided by the News1-Dong-A Ilbo, North Korean officials watch the demolition of the Punggye-ri nuclear test site on May 24, 2018 in Punggye-ri, North Korea. 










News1-Dong-A Ilbo  | Getty Images News | Getty Images

In this handout image provided by the News1-Dong-A Ilbo, North Korean officials watch the demolition of the Punggye-ri nuclear test site on May 24, 2018 in Punggye-ri, North Korea. 

U.S. banks and regulators continue to struggle tracking and curbing money moved through international banks and companies that ultimately is used to fund the North Korean government, according to a report in the The Wall Street Journal.

executive order giving the Treasury Department broader powers to sanction entities that are tied to these North Korea-linked transactions. Earlier this year, the Treasury Department also released information describing how North Korea uses deceptive labeling of cargo ships in order to facilitate the transfer of goods into the country.

The Wall Street Journal’s full report can be found on its website (note subscription may be required).

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