US Treasury imposes N. Korea-related sanctions on Singapore firms

The US Treasury Department imposed sanctions on two Singapore-based entities and one individual accused of money laundering through the US financial system. The activities were aimed at evading sanctions against North Korea, the department said in a statement on Thursday. The Justice Department also unsealed criminal charges against the person targeted by sanctions, Tan Wee Beng, according to the Treasury. On Monday, Reuters also cited a South Korean regulatory document as showing that the US Treasury Department is “deeply concerned” about planned financial cooperation between Pyongyang and Seoul and has told South Korean banks that “UN and US sanctions on North Korea remain valid.”