SIM HYON-SOP

Conspiracy to Commit Bank Fraud; Conspiracy to Violate and Violations of International Emergency Economic Powers Act; North Korean Sanctions Regulations; Conspiracy to Launder Monetary Instruments; Laundering Monetary Instruments Caution: Sim Hyon-Sop is a North Korean national who works for the Foreign Trade Bank (FTB) of North Korea, which has been sanctioned by the United States. It is alleged that Sim helped transact with customers that traded with North Korea and ensured money could move in and out of North Korea without interruption, despite U.S. sanctions. For roughly a decade, Sim allegedly played a pivotal role in defrauding U.S. banks by remitting U.S. dollar payments to facilitate trade on behalf of North Korea. On March 21, 2023, a federal arrest warrant was issued for Sim Hyon-Sop in the United States District Court for the District of Columbia, Washington, D.C., after he was charged with Conspiracy to Commit Bank Fraud, Conspiracy to Violate and Violations of International Emergency Economic Powers Act, North Korean Sanctions Regulations, Conspiracy to Launder Monetary Instruments, and Laundering Monetary Instruments. Remarks: Sim Hyon-Sop has ties to or may visit North Korea, China, and the United Arab Emirates.