US bank fined $105k for violating North Korea sanctions



News US bank fined $105k for violating North Korea sanctions TD Bank processed over a thousand transactions for North Korean diplomats, apparently unaware it was illegal Chaewon Chung December 24, 2021 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON Pexels \| U.S. dollars A U.S. bank has been fined over $100,000 for illegally processing more than a thousand payments from North Korea and opening accounts for North Korean nationals, according to the Treasury Department. TD Bank violated sanctions by processing 1,479 transactions worth about $383,000 from employees at the North Korean mission to the United Nations, and maintained nine accounts on behalf of five employees from the mission without a license, Treasury said in a statement released Thursday. A U.S. bank has been fined over $100,000 for illegally processing more than a thousand payments from North Korea and opening accounts for North Korean nationals, according to the Treasury Department. TD Bank violated sanctions by processing 1,479 transactions worth about $383,000 from employees at the North Korean mission to the United Nations, and maintained nine accounts on behalf of five employees from the mission without a license, Treasury said in a statement released Thursday. 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. © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. Get the Daily Update Start your day with the North Korea stories that matter most – as selected by And how should we address you in correspondence? One more step! Please check your inbox, for an email we just sent you, and click on the confirmation message in it to get subscribed to our Daily News Update. Trending

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US bank fined $105k for violating North Korea sanctions

TD Bank processed over a thousand transactions for North Korean diplomats, apparently unaware it was illegal

Chaewon Chung December 24, 2021

US bank fined $105k for violating North Korea sanctions

Pexels | U.S. dollars

A U.S. bank has been fined over $100,000 for illegally processing more than a thousand payments from North Korea and opening accounts for North Korean nationals, according to the Treasury Department.

TD Bank violated sanctions by processing 1,479 transactions worth about $383,000 from employees at the North Korean mission to the United Nations, and maintained nine accounts on behalf of five employees from the mission without a license, Treasury said in a statement released Thursday.

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