RFA: US Reissues Advisory against Financial Transactions with N. Korea

Write : 2017-01-25 10:30:48 Update : 2017-02-01 11:10:25

RFA: US Reissues Advisory against Financial Transactions with N. Korea

Radio Free Asia(RFA) says the Barack Obama administration warned against carrying out financial transactions with North Korea just before completing the transition of power to the Donald Trump administration.

According to the U.S.-based media outlet on Wednesday, the Financial Crimes Enforcement Network(FinCEN) under the U.S. Department of Treasury issued the advisory last Thursday, a day before Trump was sworn in as the 45th U.S. president.

The advisory, which labels North Korea as a country highly suspicious of money laundering and financing of terrorism, called on U.S. financial institutions to become fully aware of the finance-related rules and regulations imposed under UN Security Council(UNSC) resolutions 2270 and 2321.

RFA said the issuance of the advisory was in response to the measure by the Financial Action Task Force(FATF) last October to move up North Korea on its blacklist of high-risk countries for money laundering and terrorist financing.

The North has been put on the FATF blacklist for six consecutive years since 2011. The U.S. FinCEN has issued a North Korea advisory twice or three times a year. 

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