{"id":638985,"date":"2017-10-18T04:04:28","date_gmt":"2017-10-18T04:04:28","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/18\/north-korea-uses-hong-kong-to-launder-money\/"},"modified":"2017-10-18T04:04:28","modified_gmt":"2017-10-18T04:04:28","slug":"north-korea-uses-hong-kong-to-launder-money","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/18\/north-korea-uses-hong-kong-to-launder-money\/","title":{"rendered":"North Korea uses Hong Kong to launder money"},"content":{"rendered":"

<\/a> How North Korea launders its cash:<\/strong> Hong Kong is North Korea\u2019s preferred spot for money laundering, a report by CNN\u2019s Joshua Berlinger<\/a> showed. The hermit state uses a handful of front companies to get access to the global financial system and cover up much of its trade, from selling coal and fuel to exporting weapons and to buy goods and services. North Korea\u2019s problem is that it needs to trade internationally in USD or EUR \u201cbut has to figure out ways to do it when none of its partners want to be the node where North Korea and the US overlap in the international financial system.\u201d The UN Panel of Experts on North Korea outlined how the country utilizes the system in Hong Kong to gain access to markets. Panel coordinator Hugh Griffiths explains that \u201cit should come as no surprise that Hong Kong is featured so prominently \u2026 It's the closest major international financial center to North Korea. It's the closest major offshore international financial center to North Korea. And historically, it's been a center of global and regional trade ... and with fewer questions asked and looser regulation than, say, Beijing.\u201d<\/p>\n

Want more? <\/strong>The New York Times had an excellent piece out on the weekend about how North Korea has gone from hacking joke to an emerging power that generated about USD 1 bn from cyberattacks and cybercrime last year. That\u2019s about one-third the value of the isolated nation\u2019s total exports. Former New York Times Cairo bureau chief David Kirkpatrick shares the byline on the story. Read: <\/strong>The World Once Laughed at North Korean Cyberpower. No More.<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

How North Korea launders its cash: Hong Kong is North Korea\u2019s preferred spot for money laundering, a report by CNN\u2019s Joshua Berlinger showed. The hermit state uses a handful of front companies to get access to the global financial system and cover up much of its trade, from selling coal and fuel to exporting weapons […]<\/p>\n","protected":false},"author":1,"featured_media":638986,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9003],"tags":[72,2397],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-638985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-worth-reading","tag-enterpriseam","tag-worth-reading","wpautop","entry"],"acf":{"mongo_id":"4fbdb3c1-89be-45e0-a1b3-8673bc78bd94","order":"0","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2017\/10\/1726.png","photo_position":"above","related_issue":[638955],"teaser":"","voice_url":""},"yoast_head":"\nNorth Korea uses Hong Kong to launder money - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/18\/north-korea-uses-hong-kong-to-launder-money\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"North Korea uses Hong Kong to launder money\" \/>\n<meta property=\"og:description\" content=\"How North Korea launders its cash: Hong Kong is North Korea\u2019s preferred spot for money laundering, a report by CNN\u2019s Joshua Berlinger showed. The hermit state uses a handful of front companies to get access to the global financial system and cover up much of its trade, from selling coal and fuel to exporting weapons […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/18\/north-korea-uses-hong-kong-to-launder-money\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-10-18T04:04:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2017\/10\/1726.png?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/18\/north-korea-uses-hong-kong-to-launder-money\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/18\/north-korea-uses-hong-kong-to-launder-money\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"North Korea uses Hong Kong to launder money\",\"datePublished\":\"2017-10-18T04:04:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/18\/north-korea-uses-hong-kong-to-launder-money\/\"},\"wordCount\":282,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/18\/north-korea-uses-hong-kong-to-launder-money\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2017\/10\/1726.png?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"worth reading\"],\"articleSection\":[\"Worth reading\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/18\/north-korea-uses-hong-kong-to-launder-money\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/18\/north-korea-uses-hong-kong-to-launder-money\/\",\"name\":\"North Korea uses Hong Kong to launder money - 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