A new report from The Sentry, shows that in an effort to evade the international sanctions designed to disrupt its nuclear weapons program, North Korea exploited vulnerabilities in certain parts of the banking sector of the Democratic Republic of Congo to gain access to the global financial system. The report details how Afriland First Bank had an opportunity to prevent the illegal activity but failed to do so. DRC government officials and politicians appear to have been aware of what was going on but did not intervene, the investigation found.
Congo-Kinshasa: North Korea Busts Global Sanctions via Bank in DR Congo
The Sentry, 19 August 2020
Evading the international sanctions designed to disrupt its nuclear weapons program, North Korea exploited vulnerabilities in certain parts of the banking sector of the Democratic… Read more »
In 2018, two North Korean businessmen formed a construction services firm in the Democratic Republic of Congo (DRC) and engaged in activities that appear to violate sanctions adopted by the European Union (EU), the United Nations, and the United States. Despite strict international prohibitions, these individuals opened a bank account for their company, Congo Aconde, and undertook construction projects in the country.
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How North Korean Businessmen Busted Sanctions in the Democratic Republic of Congo
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