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Sanctions on North Korea – a Continued Attempt to Curtail Illicit Flows Aiding Kim Jong Il’s Position of Power
October 5th, 2010
A few weeks ago, the U.S. upped its economic sanctions on North Korea, trying to block the rampant illegal activities taken by, or on behalf of, the political elite of the state. Kim Jon Il manages his regime, in part, by using government resources to funnel exotic, luxury goods – jewelry, cars, yachts – to his large ring of cronies. This abuse falls directly under the broad definition of illicit financial flows (IFFs) as unrecorded funds and goods promoting illegal activity. Serious corruption and continued illicit activity within North Korea is becoming a larger threat to global security. These...
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