North Korea has again been designated a high-risk jurisdiction for money laundering and terrorism financing. 

According to the Financial Services Commission on Sunday, the Financial Action Task Force decided at a plenary session in France last week to put North Korea in the high-risk category along with Iran and Myanmar.

North Korea and Iran remain classified as high-risk jurisdictions requiring countermeasures, while Myanmar remains under monitoring, requiring enhanced due diligence. 

The task force, an international organization tasked with combating money laundering and terrorism financing, said it remains concerned by the North’s continued failure to address the significant deficiencies in its systems to counter money laundering and combat the financing of terrorism. 

It also expressed concerns about the serious threats posed by the North’s illicit activities related to the proliferation of weapons of mass destruction and the financing of such weapons programs.

North Korea has been on the organization’s blacklist for 15 consecutive years.