Showing posts with label illicit funds. Show all posts
Showing posts with label illicit funds. Show all posts

Wednesday, March 20, 2013

N.Korean Diplomats 'Sell Millions of Dollars Worth of Drugs'


I wonder if any of  the resources we allocate for the war on drugs, any of the Joint Interagency Task Forces out there that focus on drugs, ever looks at this threat?

But we do not pay sufficient attention to the network of illicit north Korean activities around the world.  Targeting this network could provide multiple benefits:  pressure on the regime, loss of support of elite, intelligence about the how the network and regime operate, potential recruits for future operations in post conflict, post collapse, prevention of proliferation both now and after convict or collapse.  Department 39 and its network need to be addressed in a holistic manner with a long term focus and on a global scale.
V/R
Dave

N.Korean Diplomats 'Sell Millions of Dollars Worth of Drugs'
North Korea sent a large amount of illegal drugs to its embassy in an East European country last December and ordered diplomats there to sell it for cash by early April, a diplomatic source here claims.

"South Korean intelligence obtained the information from a North Korean agent who defected recently," the source said. "Similar orders were delivered to other North Korean embassies."

North Korea has ordered each diplomat to raise US$300,000 to prove their loyalty and mark the birthday of nation founder Kim Il-sung on April 15.

Each North Korean diplomatic mission overseas is required to send back around $100,000 to the North each year, the agent-turned-defector allegedly said. They used to complain that new leader Kim Jong-un is too demanding.

Each North Korean diplomat is estimated to have been given up to 20 kg of drugs, so the North Korean embassy in the East European country may seek to sell around 200 kg.

Under the guidance of Room 39, a secretive agency that managed the private coffers of former North Korean leader Kim Jong-il, the North has been producing various types of illegal drugs and selling them abroad. South Korean authorities estimate North Korea's annual output of illicit drugs amount to 3,000 kg that translate into revenues of between $100 million and $200 million.
(Continued at the link below)

Wednesday, March 13, 2013

China 'Under Pressure' Over Kim Jong-un's Slush Funds



This is the most important leverage anyone has over the Kim Family Regime.  More than any type of sanctions or military posturing, going after the regime's finances will have the most positive effects.  We saw the effect a measly $25 million had with the Banco Delta Asia operation.  We could do so much more but of course China has to cooperate and it is unlikely they will because the effects they worry about most is that it could lead to regime collapse.
V/R
Dave

China 'Under Pressure' Over Kim Jong-un's Slush Funds
China has "come under fresh pressure" over North Korean leader Kim Jong-un's slush funds held in dozens of accounts in the country, the South China Morning Post reported on Wednesday.

The daily quoted reports that bank accounts belonging to Kim under borrowed names and amounting to hundreds of millions of dollars have been found in Shanghai and other Chinese cities.

Chinese bankers told the daily that the banks mentioned in the reports not only referred to Shanghai-headquartered banks but also Shanghai branches of foreign banks, the daily added.

"It is up to the central bank's anti-money-laundering unit to investigate suspicious capital flows and deals," it quoted a banker close to the People's Bank of China as saying. "But given the political implications of this matter, the central bank would have to receive direction from the top leadership before taking concrete steps in conducting probes."

It quoted Prof. Du Jifeng from the Chinese Academy of Social Sciences as saying international pressure to impose more sanctions on Pyongyang over the bank accounts "would create a dilemma for China's leaders."
(Continued at the link below)
http://english.chosun.com/site/data/html_dir/2013/03/14/2013031400544.html

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