Treasury Blocks Assets Linked to North Korean Financial Group
Published Date: 11/10/2026
Notice
Summary
The U.S. Treasury’s OFAC just blocked property linked to Han Yu Song, a North Korean individual tied to a banned financial group. This means U.S. people and businesses can’t deal with him or his assets starting October 28, 2026. It’s a clear move to stop money and support flowing to risky North Korean operations.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
U.S. Financial Institutions Face Transaction Prohibitions and Secondary Sanctions Risk
The notice explicitly identifies 'Secondary sanctions risk' under the North Korea Sanctions Regulations (sections 510.201 and 510.210) and cites transaction prohibitions for persons owned or controlled by U.S. financial institutions (section 510.214). This signals that U.S. financial institutions must prohibit certain transactions with the listed persons and may face secondary-sanctions consequences.
Named North Korean Individuals and Entity Blocked
On October 28, 2026, the Treasury's OFAC added named persons — including HAN, Yu Song and the entity FIRST FINANCIAL AND TECHNICAL DEVELOPMENT CENTER — to the Specially Designated Nationals (SDN) List. All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them.
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Key Dates
Department and Agencies
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Previous / Next Documents
Previous: 2026-22861, Notice of OFAC Sanctions Action
The U.S. Treasury’s OFAC just blocked the property of certain people linked to a big criminal group and cyber crimes. This means Americans can’t do business with them anymore, starting November 5, 2026. If you have money or deals with these folks, it’s time to freeze those assets and cut ties fast!
Next: 2026-22864, Notice of OFAC Sanctions Action
On April 15, 2026, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) blocked certain people and ships by adding them to a special list. This means any money or property they have under U.S. control is frozen, and Americans can’t do business with them. These actions help keep bad actors from using U.S. resources and protect national security.