Treasury Targets Arms Trafficking Network and Financial Facilitators for DPRK Weapons Programs

WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning five individuals and one entity for their role in generating illicit revenue for the Democratic People’s Republic of Korea (DPRK) government’s weapons of mass destruction (WMD) and ballistic missile programs, including by selling weapons to the Burmese military regime.“North Korea’s unlawful weapons programs are a direct threat to America and our allies. At Treasury, we will continue to dismantle the financial networks that sustain them” said Under Secretary for Terrorism and Financial Intelligence John K. Hurley. This targeted action focuses on overseas representatives of DPRK government agencies who are key to the regime’s ability to finance its unlawful WMD and ballistic missile programs: the Korea Mining Development Trading Corporation (KOMID) and the Reconnaissance General Bureau (RGB), both of which are designated by the United Nations and OFAC.