Financial Crime World

Entities Sanctioned by the UK and UN: A Neutral Summary

Introduction

This article provides a neutral summary of entities sanctioned by the UK and UN. These entities have been listed due to their involvement in activities that are considered detrimental to international peace and security or other interests of the United Kingdom.

Entities Listed by the UK and UN

1. Korea Tangun Trading Corporation

  • Subordinate Entity: Second Academy of Natural Sciences, North Korea
  • Primary Responsibility: Procuring commodities and technologies for North Korea’s defense research and development programs

The Korea Tangun Trading Corporation is a key entity involved in supporting North Korea’s defense capabilities.

2. Koryo Bank

  • Financial Services Entity: Operating in the economy of North Korea
  • Association: Office 38 and Office 39, Korean Workers’ Party

Koryo Bank is linked to two offices within the Korean Workers’ Party, indicating its significant role in North Korea’s financial sector.

3. KOTI CORP

  • Ship Manager: Involved in ship-to-ship transfers of petroleum products
  • Date of Incident: December 9, 2017

KOTI Corp was involved in a specific incident where it facilitated the transfer of oil products to a North Korean tanker vessel.

4. Mansudae Overseas Project Group of Companies

  • Exportation Entity: Exported workers from North Korea for construction-related activities
  • Revenue Generation: For the government or Workers’ Party of Korea

The Mansudae Overseas Project Group of Companies played a crucial role in generating revenue for the North Korean government through its exportation of workers.

5. Myohyang Shipping Co

  • Ship Manager: Involved in ship-to-ship transfer operations for oil products
  • Date of Incident: Varies, but involved in transferring oil products to a North Korean tanker vessel

Myohyang Shipping was implicated in several incidents involving the transfer of oil products to a North Korea-flagged vessel.

Conclusion

The entities listed above have been sanctioned by the UK and UN due to their involvement in activities that are considered detrimental to international peace and security or other interests of the United Kingdom.