Evergreen N. Korea accesses financial services via “critical implementation deficiencies”: UNRepresentatives of DPRK banks still working in China, Libya, the Russian Federation, Syria, and the United Arab Emirates UN member states are failing to properly enforce Security Council resolutions on North Korean banks and their representatives abroad, according to an upcoming report from the UN Panel of Experts (PoE) tasked with monitoring DPRK sanctions enforcement. During its investigation, the Panel found multiple instances of poor due diligence on the part of financial institutions while North Korean representatives of sanctioned entities remain, it argued, insufficiently monitored. “The DPRK continued to access the international financial system because of critical implementation deficiencies, where DPRK evasive activities were not duly identified and prevented,” the PoE report reads © Korea Risk Group. All rights reserved. |