Two Chinese citizens and a UAE trading company have been sanctioned by the United States for their roles in money laundering for North Korea.
The United States Department of the Treasury Office of Foreign Assets Control (OFAC) worked closely with the government of the United Arab Emirates (UAE) to impose sanctions on enablers of North Korean digital asset laundering.
OFAC has sanctioned two individuals — Chinese citizens Lu Huaying and Zhang Jian — and UAE-based Green Alpine Trading for their parts in cryptocurrency conversion and the laundering of funds that were subsequently sent to the Democratic People’s Republic of Korea.
Acting Treasury Under Secretary for Terrorism and Financial Intelligence Bradley T. Smith said in a statement:
