April 2017 Digital Edition

Click Here

March 2017 Digital Edition

Click Here

Feb. 2017 Digital Edition

Click Here

January 2017 Digital Edition

Click Here

Nov/Dec 2016 Digital Edition

Click Here

Oct 2016 Digital Edition

Click Here

Technology Sectors

Market Sectors

Uncle Sam sanctioned North Korea even before recent attacks

Stuart Levey

Five days before North Korea began shelling a South Korean island near the port city of Inchon, the U.S. Treasury Department moved against the belligerent and unpredictable North Korean government by adding Korea Daesong Bank and Korea Daesong General Trading Corp. – two North Korean entities -- to its list of economically sanctioned organizations.

On Nov. 18, U.S. Under Secretary for Terrorism and Financial Intelligence Stuart Levey, said, “Korea Daesong Bank and Korea Daesong General Trading Corporation are key components of Office 39's financial network supporting North Korea's illicit and dangerous activities. Treasury will continue to use its authorities to target and disrupt the financial networks of entities involved in North Korean proliferation and other illicit activities."

The Treasury Department did not identify any specific buildings, properties or other assets that it claimed were owned by the bank or trading company, were physically located inside the United States and could be immediately seized. A quick search by Government Security News for such offices or assets inside the U.S. similarly did not turn up anything.

On Nov. 24, the day after the North Korea shelling, the Treasury Department’s office of foreign assets control, announced that based on actions taken before the most recent outbreak of artillery fire, a total of one individual and three entities related to North Korea (including the bank and trading company) were deemed to represent “an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States.”

The move against the North Korean bank and trading company were made in accordance with Executive Order 13551, signed by President Obama, last August.

“E.O. 13551 targets for sanctions individuals and entities facilitating North Korean trafficking in arms and related materiel; procurement of luxury goods; and engagement in certain illicit economic activities, such as money laundering, the counterfeiting of goods and currency, bulk cash smuggling and narcotics trafficking,” said the Treasury Department announcement on Nov. 18. “As a result of today's action, any assets of the designated entities that are within U.S. jurisdiction are frozen and U.S. persons are prohibited from conducting financial or commercial transactions with these entities.”

It remains to be seen whether these economic sanctions by the U.S. played any role in instigating North Korea’s most recent aggression against its neighbor to the south.

 

Recent Videos

HID Global is opening the door to a new era of security and convenience.  Powered by Seos technology, the HID Mobile Access solution delivers a more secure and convenient way to open doors and gates, access networks and services, and make cashless payments using phones and other mobile devices. ...
Mobile device forensics can make a difference in many investigations, but you need training that teaches you how to get the most out of your mobile forensics hardware and software, and certifies you to testify in court. Read this white paper to learn how to evaluate mobile forensics training...
PureTech Systems is a software company that develops and markets PureActiv, its geospatial analytics solution designed to protect critical perimeters and infrastructure.  Its patented video analytics leverage thermal cameras, radars and other perimeter sensors to detect, geo-locate, classify, and...
PureTech Systems is a technology leader in the use of geospatial video, focusing on perimeter security.  When combining geospatial capabilities with video analytics and PTZ camera control, managers of critical facilities can benefit by allowing the video management system to aid them in the process...