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Center for a New American Security (en-US), LTG Anthony R. "Tony" Ierardi, USA (Ret. Furthermore, if done right, policymakers will create the space for safe information sharing and a culture of collaboration to identify and halt the money trail for the nuclear threats emanating from North Korea. Member state reporting tracked 92 Chinese-flagged, self-propelled barges loading sand from Haeju and then travelling to Chinese ports. OFAC should create a database for a new kind of illicit activity report, which would complement the SARs that financial institutions already file to FinCEN. To enhance the impact of this recommendation, member states should consider establishing a regional mechanism and point of contact to   facilitate and coordinate broader information gathering on North Korea’s maritime sanctions evasion. It must be every country because universal enforcement is essential to avoid circumvention and dodging by North Korea. These actions stymie the Panel’s mandate to “take appropriate action on information regarding alleged violations of sanctions measures.”. Experts from the United Nations Security Council’s (UNSC) North Korea sanctions committee claim the Democratic People’s Republic of Korea (DPRK) is violating international sanctions regarding imports of refined petroleum products. North Korea is the most sophisticated, creative, and dangerous actor when it comes to stealthy and skillful methods of financing illicit nuclear and missile proliferation. greater technical capacity to implement and enforce U.N. sanctions and other financial controls on North Korea and North Korean-linked entities. It will involve an overhaul of exiting legal and regulatory frameworks and, in many cases, require more money. North Korea is the most sophisticated, creative, and dangerous actor when it comes to stealthy and skillful methods of financing illicit nuclear and missile proliferation. So long as regulators emphasize (and grade financial institutions on) a rules- and sanctions list–based approach to screening North Korean–related transactions, the financial institutions will not find it worth it to bring in the next generation of investigative techniques. Indeed, the broad nature of the sanctions regime is moving Pyongyang to successfully invest significantly more resources to improve and diversify its revenue generating and financial movement strategies. North Korea raises money to support its nuclear and ballistic missile programs in various ways. Center on Cyber and Technology Innovation.

This edition of Sanctions by the Numbers explores Iran sanctions, tracking how designations and delistings have evolved over time, the dozens of countries affected by Iran-rel... By These efforts would go a long way to strangling North Korea’s proliferation cash flow. First, the international community must more accurately diagnose the problem. U.S. policy leaders should conceive of policy incentives and guidance to nudge global banks and companies to look through financial records for North Korean behavior rather than just for names. The requirements are: The international community cannot allow the daunting challenge of making true progress to impede North Korea’s illicit money trail be an excuse for inaction. It regularly discloses new aliases for North Korean proliferation agents, as well as new individuals engaged in this activity. Under the program, FinCEN convenes regularly scheduled briefings on a variety of illicit finance threats.
Conduct global coordination on information-sharing. If the U.S. government takes a few brave steps to combat North Korea’s financing of proliferation, whether alongside or in the absence of a diplomatic denuclearization process, it could lead us to a much safer and more secure world. The United States can work with the private sector, allies, and partners to combat North Korea’s financing of proliferation.

Review of Daniel Markey, China’s Western Horizon: Beijing and the New Geopolitics of Eurasia (New York: Oxford University Press, 2020). And the benefits will continue: spurring creativity and innovation by companies to spot and stop illicit financial activity, and more, safe information sharing platforms, will help push back on a broad array of criminal and security threats. Cultivating this kind of creative and innovative approach by the private sector to lead on new counterproliferation financing strategies may be the only way for policymakers to spur a real shift in this work. However, such an effort would require two exceedingly difficult-to-achieve goals for every country. Article 27 of UNCLOS provides for the boarding of ships within a coastal state’s territorial waters or contiguous zones, if the ship in question is a merchant or government ship operated for commercial purposes. Moreover, a handful of well-placed policy shifts in leading economies, starting in Washington, D.C., can also have a big effect.

Busting North Korea’s Sanctions Evasion. Follow FDD on Twitter @FDD and @FDD_CEFP. The Panel usefully recommends enhanced sharing of data and other information on the activities and movement of vessels carrying coal, and the establishment of a regional cooperative mechanism to serve as a point of contact. SARs are a cornerstone of anti-money-laundering programs and can point to potential sanctions violations and financing of proliferation activity. Mathew Ha is a research analyst focused on North Korea at the Foundation for Defense of Democracies (FDD), where Andrea Stricker is a research fellow focused on nonproliferation. Encourage an environment where companies know they can come forward to disclose information and be held harmless if they act in good faith and undertake serious efforts to block, tackle, and guard against any North Korean money flows.

As a theoretical legal and regulatory matter, the answer is yes. The Financial Crimes Enforcement Network (FinCEN) Exchange facilitates voluntary information sharing among financial institutions under the auspices of the 314(b) provision of the USA Patriot Act.

On the high seas, such a coalition could work with those states bearing responsibility for the operation of ships bearing their flags, and, under UNCLOS Article 110’s Right of Visit, stop and search suspect vessels.

Richard Fontaine.

While North Korea’s Supreme Leader has outwardly professed a desire for reduced tensions on the Korean peninsula and a new relationship with the United States, he has overseen a vast criminal enterprise unrivaled in its efforts to evade financial controls, primarily financial sanctions, meant to limit North Korea’s access to funds for bomb building. North Korea appears likely to be a formidable threat to the United States and many allies for the foreseeable future.

Taking some of these actions will be very challenging as a political and technical matter. Follow Mathew and Andrea on Twitter @MatJunsuk and @StrickerNonpro. A small cadre of innovative thinkers from the financial industry and law enforcement community are figuring out targeted strategies for better catching North Korean financing of proliferation, notwithstanding today’s deficit of political will and technical capacity. Pyongyang exported significant amounts of coal, mostly to China. We know that the challenges are large. Regulators are right to be cautious and to demand that companies to rigorously protect themselves and their customers from North Korean abuse. Additional regulatory and enforcement efforts are required by many nations to prevent trading companies, brokers, or insuring entities from providing illicit assistance to North Korea’s maritime trade. Strengthen information security for central banks and financial institutions.

The United States should begin by augmenting its own abilities to deal with this wide breadth of cyber activity.

A significant problem in the current environment is the inadequate international control regime to spot and stop North Korea’s money trail, particularly its blind spot on North Korea’s malicious, highly active, and unfortunately very successful cyber and information technology activities. In particular, the report highlights Pyongyang’s elaborate and evolving maritime tactics designed to evade UN import and export sanctions. International law, and specifically Article 94 of the UN Convention on the Law of the Sea (UNCLOS), grants a ship’s flag state certain authorities and operational responsibilities over vessels on the high seas. Policymakers can augment these with declassified intelligence and produce shareable reports to inform other governments and companies also tracking proliferation finance. And this work can create a feedback loop for national governments and the private sector to respond to the threats. FinCEN identifies the topics and invites financial institutions that have volunteered in the program to participate if FinCEN thinks they may have information to contribute.

While there are commercial solutions available to this challenge, the Treasury Department could provide a public service by updating the online version of the SDN list to be more easily readable, particularly as it relates to situation where there are individuals or entities for whom OFAC has identified additional aliases, other identifying information, or property controlled by an SDN.
Suspicious activity reports (alternatively known as suspicious transaction reports) represent an important source of lead intelligence for financial intelligence units around the world. Pyongyang continued its longstanding practice of flying foreign flags to illicitly import and export commodities. But tough regulation and compliance should be compatible with innovative approaches to catching and halting North Korean proliferators. ), Next Generation National Security Fellows, Robert M. Gates and Leon E. Panetta Fellows, The Shawn Brimley Next Generation National Security Leaders Fellowship, Joseph S. Nye, Jr. National Security Internship and Mentoring Program, 2020 National Security Conference: The America Competes Summer Series, Protecting Democracy: Foreign Interference, Voter Confidence, and Defensive Strategies in the 2020 Elections and Beyond, Local Interests, Chinese Ambitions, and an Intelligent American Response. Some methods are relatively new, even for seasoned North Korea watchers, and exploit countries and economic areas where there is very little, or absolutely no, awareness about their exposure to North Korean illicit activity. Emily Jin, View All Reports The 2020 election is no more protected from Russian meddling than the 2016 election was.... By Examples of these include the United Kingdom’s Joint Anti-Money Laundering Task Force (JMLIT) and Hong Kong’s Fraud and Money Laundering Task Force (FMLIT). The Trump administration would bequeath a stock of leverage to its successor.... By

This slow and skeptical approach can be a drag on innovation and creative strategies to catch North Korean proliferators.

OFAC could deploy a proof-of-concept model for particularly high-risk sectors, like shipping, that currently does not have a mechanism for formally and directly reporting sanctions evasion or related suspicious activity. Finally, the report lists many instances in which China and Russia continued to violate UN import and export sanctions on North Korea via maritime trade and other means. During the reporting period, which covers 2019 and part of 2020, North Korea continued to illegally import and export several sanctioned commodities via maritime routes. FDD is a Washington, DC-based, nonpartisan research institute focusing on national security and foreign policy.

All financial institutions know to screen their customers and their customers’ transactions against the Specially Designated Nationals and Blocked Persons List—it is the basic foundation of any sanctions compliance program. Washington and its like-minded partners must overcome the inherent obstacles posed by Chinese and Russian obstruction at the UN Security Council. Moving forward, the United States and its allies should continue to investigate and report on Pyongyang’s suspected sanctions violations and those of its overseas partners.

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