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June 15, 2017

Breaking: DOJ files $1.9M forfeiture complaint against North Korean front company in China

The U.S. Attorney for the District of Columbia issued a press release this afternoon announcing that it has filed a complaint under the civil forfeiture statute at 18 USC 981, to forfeit $1,902,976 from Mingzheng International Trading Limited of Shenyang, China. According to the complaint, Mingzheng conspired to evade sanctions and launder money through the United States on behalf of the Foreign Trade Bank of North Korea (FTB). Treasury designated the FTB under Executive Order 13382 in March 2013, for proliferation financing. Under the...
Categories Money Laundering/Proliferation/U.S. Law
May 26, 2017

H.R. 2732 would ban the North Korea tourist racket from the dollar system

Yesterday, Rep. Adam Schiff (D, Cal.) and Joe Wilson (R, S.C.) introduced a bill that would ban transactions incident to travel to, from, and within North Korea. The text isn’t posted on Congress.gov yet, but Schiff and Wilson have issued identical press releases describing what the bill would do: Today, Congressmen Adam Schiff (CA-28) and Joe Wilson (SC-02) introduced the bipartisan North Korea Travel Control Act, which would require the Treasury Department to issue regulations requiring a license for transactions...
Categories Foreigners in N. Korea/U.S. Law
April 7, 2017

Thomas Massie: useful idiot for Assad & Kim Jong-un, embarrassment to us all

Last year, Massie, along with fellow Republican isolationist Justin Amash of Michigan, was just one of two members of the entire U.S. Congress to vote against sanctioning Kim Jong-un (as noted yesterday, even Bernie Sanders sent a statement of support from the campaign trail in New Hampshire). This week, Massie was one of three votes against a resolution condemning North Korea’s ballistic missile launch (the others being Amash and Walter “Freedom Fries” Jones). He was the only vote against a bill that would...
Categories Terrorism (NK)/U.S. Politics/Useful Idiocy
April 4, 2017

Sens. Gardner & Markey call on Trump administration to enforce North Korea sanctions law

Here’s the kind of story you hear too seldom in Washington today: A conservative Republican (Cory Gardner of Colorado) has joined forces with a liberal Democrat (Ed Markey of Massachusetts) to write a letter to the new secretaries of State and Treasury, asking them to fully enforce the North Korea Sanctions and Policy Enhancement Act (NKSPEA), which passed Congress with the overwhelming support of both parties last year. (Even Bernie Sanders would have voted for it had he not been campaigning...
Categories Sanctions/U.S. Law/U.S. Politics
April 3, 2017

What the Trump administration’s first North Korea sanctions designations tell us

Last Friday’s designations of 11 individuals and one company by the Treasury Department are the first North Korea designations of the new Trump administration. So what do they tell us about the direction of the administration’s North Korea policy? On the positive side, the designation of a North Korean coal company affiliated with the military should, in theory, send a strong message to its Chinese clients, although they don’t seem to have taken the last hint. Also on the positive side,...
Categories Money Laundering/Sanctions/U.S. Law
March 31, 2017

Congress is marking up North Korea bills faster than I can write about them

Congress’s sentiment about Pyongyang today equates roughly to Cato the Elder’s sentiment about Carthage. (I mean this figuratively, for now, although I increasingly fear that sanctions are our last plausible strategy to prevent war.) It’s now moving more North Korea legislation than it has in the entire decade leading up to the passage of the North Korea Sanctions and Policy Enhancement Act just over one year ago. I can no longer keep up with all of the bills, amendments, markups, and resolutions...
Categories Sanctions/U.S. Law
March 23, 2017

WSJ: Feds may indict North Koreans in Bangladesh Bank fraud

This story just gets more interesting by the day: Federal prosecutors are building cases that would accuse North Korea of directing one of the biggest bank robberies of modern times, the theft of $81 million from Bangladesh’s account at the Federal Reserve Bank of New York last year, according to people familiar with the matter. The charges, if filed, would target alleged Chinese middlemen who prosecutors believe helped North Korea orchestrate the theft, the people said. The current cases being pursued...
Categories Cyberwar/NK Crime/U.S. Law
March 22, 2017

Royce introduces bill to toughen sanctions on N. Korea; subcommittee holds hearing

The big news yesterday was that Ed Royce, the Chairman of the House Foreign Affairs Committee, has introduced a sequel to the North Korea Sanctions and Policy Enhancement Act, or NKSPEA. You can read the full text here, but briefly, the bill — Expands the mandatory and discretionary sanctions in NKSPEA 104 to match the sanctions added by UNSCR 2270 and UNSCR 2321. It also adds a few more, like authorizing Treasury to sanction anyone who imports food from North Korea — a...
Categories China/Money Laundering/Sanctions/U.S. Law/U.S. Politics
March 20, 2017

Ted Cruz introduces Senate bill to re-list N. Korea as a state sponsor of terrorism

Ted Cruz, who has emerged as a leading advocate for a harder line against North Korea, has introduced a Senate companion bill to Rep. Ted Poe’s bill, calling for North Korea’s re-listing as a state sponsor of terrorism. According to a press release from Senator Cruz’s office,* Cruz’s bill has six original co-sponsors: Sens. Thom Tillis (R-N.C.), Dean Heller (R-Nev.), Lisa Murkowski (R-Alaska), Marco Rubio (R-Fl.), Dan Sullivan (R-Alaska), and Cory Gardner (R-Colo.). Compared to the House bill, the Senate...
Categories Terrorism (NK)/U.S. Law/U.S. Politics
March 16, 2017

N. Korea, Lazarus & SWIFT: Are the white hats closing in? (Update: SWIFT cuts off remaining N. Korean banks)

In the last month, major news stories about North Korea have bombarded my batting cage faster than I’ve been able to swing at them. I’d wondered when I’d have a chance to cover Katy Burne’s detailed story in the Wall Street Journal about the empty half of the SWIFT glass ” that despite its recent decision to disconnect three U.N.-designated North Korean banks, it’s still messaging for banks that are sanctioned by the Treasury Department, but not by the U.N.:...
Categories Cyberwar/Money Laundering/NK Crime/U.S. Law
March 9, 2017

Trump admin leaning toward tougher sanctions & (maybe) “covert actions”

For weeks, we’ve heard that the Trump administration was expected to complete a top-to-bottom review of North Korea policy by the end of this month. Barely into the second week, Reuters is already giving us a peek at where the review is headed. Skim past the mandatory all-options-are-on-the-table disclaimer and “senior U.S. officials” say this: They added a consensus was forming around relying for now on increased economic and diplomatic pressure – especially by pressing China to do more to...
Categories U.S. Politics/Washington Views
March 6, 2017

Yay, it happened! Jim Rogers got burned by hyping North Korea!

And just like that, crackpot investment advisor Jim Rogers joins the distinguished company of Hyundai Asan, Volvo, Yang Bin, David Chang and Robert Torricelli, Chung Mong-Hun, Roh Jeong-ho, and Orascom’s Naguib Sawaris, all of whom won Darwin Awards in North Korea. I’ve previously written about Rogers and his enthusiasm for North Korea and its worthless currency. That OFK post caught the eye of a New York Times reporter, who has just published a story on the relationship between Rogers and his self-described business...
Categories "United" Nations/Money Laundering/Sanctions/U.S. Law
February 17, 2017

GOP heavyweights push for secondary boycott of North Korea

Six Republican senators — Ted Cruz (TX), Cory Gardner (CO), Thom Tillis (NC), Marco Rubio (FL), Pat Toomey (PA) and David Perdue (GA) — have signed a letter to newly confirmed Secretary of the Treasury Steve Mnuchin* calling for improved implementation and enforcement of the North Korea Sanctions and Policy Enhnancement Act (NKSPEA). As Kim Jung-un has exposed his willingness to increase ballistic missile testing with the ultimate goal of achieving nuclear breakout, the potential for this regime to attain...
Categories Sanctions/U.S. Law/U.S. Politics/Washington Views
February 14, 2017

Trump struggles on North Korea, but it’s still the first quarter (updated)

By this time tomorrow, we’ll know whether initial reports that Kim Jong-nam was assassinated by two North Korean women with a poison needle at the Kuala Lumpur Airport were wrong or only half-wrong. For now, I’ll dwell on grading the Trump administration’s answers to its first North Korean test ” the test of a missile system whose moderate range belies its potential dangerousness, given its potential to be launched from a mobile carrier or a submarine. So far, that grade is...
Categories "United" Nations/Missiles/Washington Views
February 13, 2017

Some on-point congressional testimony on sanctions as part of a broader N. Korea policy

Reuters reports that, following North Korea’s weekend missile test, the Trump administration “will consider a full range of options in a response to Pyongyang’s missile test” that are “calibrated to show U.S. resolve while avoiding escalation.” Those options will include increasing “pressure on China to rein in North Korea,” “new U.S. sanctions to tighten financial controls, an increase in U.S. naval and air assets in and around the Korean peninsula and accelerated installation of new missile defense systems in South Korea.”...
Categories Sanctions/Washington Views
February 1, 2017

Yesterday’s Senate hearing on North Korea policy

Yesterday’s hearing before the full Senate Foreign Relations Committee on North Korea policy was a one-panel affair, with no administration witnesses and two experts — Nicholas Eberstadt of the American Enterprise Institute and Scott Snyder of the Council on Foreign Relations. The full hearing is on video here. In his testimony, Snyder called for (of course) strengthening the alliances with South Korea and Japan, tougher secondary sanctions on North Korea’s Chinese enablers, and “that we erode Kim Jong Un’s internal...
Categories U.S. Politics/Washington Views
January 12, 2017

Rex Tillerson on North Korea

I’ve been letting confirmation hearings play in the background at the office this week, and I was able to catch enough of Rex Tillerson’s hearing to listen up at key moments. You can watch the whole thing here if you have time; it’s likely that North Korea also came up during other moments that I didn’t catch. Of course, I was keen to hear Tillerson’s views about North Korea. I was also keen to hear (indirectly) the views of the transition team...
Categories U.S. Politics/Washington Views
January 11, 2017

Two must-reads, via David Straub & Evans Revere

I sacrificed my blogging time for a greater cause today, but instead will direct you to the sober and terrifying analyses of two of my favorite left-of-center North Korea watchers, David Straub and Evans Revere. Both will give you a good idea of exactly where Kim Jong-un thinks his nuclear program is leading, and it doesn’t involve bargaining it away. Similar to this and this in some regards, in case you missed those posts.
Categories Washington Views