Counterfeiting Money Laundering Sanctions

N. Korean counterfeiting surges as Bureau 39’s checks bounce.

When the Secret Service first found high-quality counterfeit dollars circulating in the Middle East over three decades ago, North Korea wasn’t the prime suspect; Iran was. The counterfeits were so good that experts could only tell them from the originals by the superior quality of their printing, so the Secret Service named them “supernotes.” The …

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Counterfeiting Missiles Money Laundering North-South Proliferation Sanctions WMD

Over at Foreign Policy …

… Professor Sung Yoon Lee and I have a piece up discussing the world’s next, almost-certain-to-be-lost opportunity to respond to North Korea more effectively than having Susan Rice continue to beat her cranium against the Great Wall of China at the Security Council.  It’s a blend of Professor Lee’s prognostications about what the North will …

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Counterfeiting Money Laundering Sanctions

End of Bureau 39 Wouldn’t Mean the End of N. Korea’s Criminal Enterprises

Reports last week claimed that, according to “sources familiar with North Korean affairs,” North Korea had shut down Bureau 39 of the Workers’ Party — responsible for obtaining hard currency by any means necessary, including illicit activities — and Bureau 38, responsible for managing the regime’s overseas funds. Are any of the reports true?  My default position …

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Cheonan Incident Counterfeiting Money Laundering Sanctions

At Last, Plan B

This afternoon, the Treasury Department finally announced its long anticipated sanctions against North Korea, in the form of a sweeping new executive order. The order, pursuant to the International Emergency Economic Powers Act, authorizes the blocking of assets of “any person” providing what Treasury calls “material support” for North Korea’s WMD proliferation, money laundering, counterfeiting, …

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Counterfeiting Money Laundering NK Crime NK Economics Proliferation Sanctions

Plan B Watch: Einhorn Goes to Tokyo, Pressure Builds on China

The latest reports in the Korean press tell us that the President will soon sign an over-arching executive order that will subsume the authorities of Executive Order 13,382 (see sidebars), and will also allow the blocking of assets used for proliferation, drug trafficking, and currency counterfeiting: In a press briefing on Monday, Department spokesman Philip …

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Counterfeiting Money Laundering Sanctions

Plan B Watch: Robert Einhorn Visits Seoul; State Directs Strong Criticism at China

Robert Einhorn, President Obama’s special adviser for non-proliferation and arms control, is visiting Seoul and Tokyo this week. He is accompanied by Daniel Glaser, who works with Treasury’s Undersecretary for Terrorism and Financial Intelligence, and who was a key architect of the Banco Delta Asia sanctions in 2005 and 2006. At the risk of making …

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Counterfeiting Money Laundering Sanctions

Plan B Watch: Treasury Targets 100 Suspicious N. Korean Accounts Worldwide

According to multiple newspaper reports published since late last week, the Obama Administration’s new asset-freezing campaign against North Korea began in earnest in June. The Treasury Department, having identified about 200 accounts worldwide suspected of storing the proceeds of banned weapons sales, currency counterfeiting, counterfeit cigarettes and Viagra, proliferation, drug trafficking, and other things that …

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An Alliance? Cheonan Incident Counterfeiting Money Laundering Sanctions U.S. & Korea

Plan B Watch: Clinton Announces Tightening of N. Korea Sanctions

Well, it’s about damn time: The Obama administration announced Wednesday that it would impose further economic sanctions against North Korea, throwing legal weight behind a choreographed show of pressure on the North that included an unusual joint visit to the demilitarized zone by Secretary of State Hillary Rodham Clinton and Defense Secretary Robert M. Gates. …

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China & Korea Counterfeiting Fiskings Money Laundering Sanctions

You Say That Like It’s a Bad Thing: “China Hand” Fears Treasury Sanctions

I’m apparently not the only one who cocked an eyebrow at the refusal of a State Department spokesman recently to rule out applying new sanctions to be directed at North Korea to third-country entities. The United States Wednesday did not preclude the possibility of freezing North Korean assets in foreign banks to effectively cut off …

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"United" Nations Cheonan Incident Counterfeiting Money Laundering Sanctions

Is the Obama Administration Ready for Plan B at Last?

Well, finally! The Obama administration is considering going after the assets of North Korean entities and individuals to punish Pyongyang after the sinking of a South Korean warship, sources familiar with the matter said on Friday. Freezing offshore assets would be the first tangible U.S. action to make North Korea pay a price for the …

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Cheonan Incident China & Korea Counterfeiting Money Laundering Sanctions U.S. Law Washington Views

Robert Einhorn to Lead North Korea Sanctions Implementation Effort

The Joongang Ilbo is reporting that Clinton Administration alumnus and counter-proliferation expert Robert Einhorn is going to be put in charge of “streamlining the process by which it implements” international sanctions against North Korea, sanctions that are likely to be enhanced after an international investigation found that North Korea torpedoed and sank the South Korean …

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Counterfeiting Money Laundering Sanctions

How Kim Jong Il Got Away With Counterfeiting Our Money

Having finally found time to read all of David Rose’s excellent Vanity Fair piece on North Korea’s supernote counterfeiting operation, I agree absolutely with Richardson and Curtis; it’s an excellent piece of journalism. For a fuller understanding, it should be read in the context of two others. Stephen Mihm’s New York Times report explained how …

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