https://www.nbcnews.com/news/world/secret-documents-show-how-north-korea-launders-money-through-u-n1240329North Korea carried out an elaborate money laundering scheme for years using a string of shell companies and help from Chinese firms, moving money through prominent banks in New York, according to confidential bank documents reviewed by NBC News.
Wire transfers from North Korean-linked firms with opaque ownership sometimes came in bursts, only days or hours apart, and the amounts transferred were in round figures with no clear commercial reasons for the transactions, according to the documents.
Graham Barrow, a London-based anti-money laundering expert, said these kinds of transactions are "red flags," and are all hallmarks of efforts to conceal the origins of illicit cash.
A trove of confidential bank documents reviewed by NBC News offers a rare glimpse into how North Korea — and other rogue actors — move illicit cash across borders despite international sanctions designed to block Pyongyang's access to the global financial system. The suspected laundering by North Korea-linked organizations amounted to more than $174.8 million over a period of several years, with transactions cleared through U.S. banks, including JP Morgan and the Bank of New York Mellon, according to the documents.
