UN expert group links four Hong Kong firms to reports of illegal oil shipments to North Korea

Aaron Arnold, a senior associate fellow at Britain-based defence and security think tank the Royal United Services Institute, said North Korea continued to use Hong Kong as a haven to evade sanctions because of the city’s banking secrecy laws, which protect information regarding the identities of company owners and other types of data. ... Arnold, a former member of the UN Security Council panel of experts on North Korea sanctions, said: “Hong Kong and the Chinese authorities should work to make their corporate registration process more transparent, including allowing public access to beneficial ownership information.”