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Leo Byrne
Leo Byrne was the Data and Analytic Director at NK News. Follow him on twitter.
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News Three North Korean banks barred from SWIFT systemSanctioned banks continued to use the financial messaging system last year: PoE
Three sanctioned DPRK banks were barred from the world’s most important financial messaging service on Wednesday, following the publication of a UN Panel of Experts (PoE) report which showed they had continued to use the service despite their designation. The SWIFT (Society for Worldwide Interbank Financial Telecommunication) system allows banks and financial institutions to communicate about transactions and trades. The group told the Wall Street Journal on Wednesday that their services would no longer be available to three North Korean banks. The three barred banks were the Bank of East Land, Korea Kwangson Banking Corp (KKCB), and Korea Daesong Bank, © Korea Risk Group. All rights reserved. |