NK Diplomats Engaging in Illicit Fundraising: UK Government Report

The 73rd anniversary of the founding of the DPRK at the Party Central Committee offices in Pyongyang, North Korea on September 8. (EPA-Yonhap)

North Korean embassies and diplomatic personnel engage in illicit fundraising activities to finance the country’s nuclear and other destructive weapons activities, according to a report from the British government.

The UK Finance Department’s report on Proliferation Finance (PF) Risk Assessment said that hosting the North Korean Embassy in London “may present an inherent risk” as all banks countries may not be sensitive to UN Security Council (UNSC) sanctions. that restrict such activities.

North Korean embassies and diplomatic personnel are known to engage in PF activities – generating income through extra-diplomatic means, identifying business opportunities for North Korean entities and helping them access the financial system. formal (or moving money / goods in diplomatic bags) in violation of UNSC sanctions, ”the report said, released Thursday (local time).

Referring to the “significant risk” associated with the presence of North Korean workers in a country, the report states that “opportunities may exist” for those holding a student visa to Great Britain to generate income, although the European country does not host any North Korean workers. .

The report also states that North Korea allegedly flew

US $ 316.4 million in virtual assets across the world through cyber activities between 2019 and 2020, citing a recent UN report.

“Restrictions (UNSC) are only effective if they are properly implemented and enforced,” the report said, warning that weak implementation by the public and private sectors could lead to “increased revenues to support the North Korean proliferation “. (Yonhap)

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