Anti-money laundering organ urges shutdown of overseas N.Korean banks | NK News
NK News Logo
November 22, 2024
NK News is hiring
News

Anti-money laundering organ urges shutdown of overseas N.Korean banks

MOFA welcomes sanctions crackdown, says spokesperson

The Financial Action Task Force (FATF) has urged members to shut down overseas North Korean bank branches and to sever financial ties with the North, South Korea’s Financial Supervisory Service (FSS) announced on Tuesday.

The FATF, an intergovernmental body combating money laundering and terrorist financing, “strongly demanded” that members blockade North Korea’s financing channels in accordance with UN Security Council (UNSC) Resolution 2270, the FSS added.

Become a member for less
than $5.75 per week.

  • Unlimited access to all of NK News: reporting, investigations, analysis
  • The NK News Daily Update, an email newsletter to keep you in the loop
  • Searchable archive of all content, photo galleries, special columns
  • Contact NK News reporters with tips or requests for reporting
Get unlimited access to all NK News content, including original reporting, investigations, and analyses by our team of DPRK experts.
Subscribe now

All major cards accepted. No commitments – you can cancel any time.