US Treasury Issues Advisory on Financial Trade with N. Korea
The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) has issued its second advisory this year against financial dealings with North Korea.
The advisory bans North Korean financial institutions from accessing accounts within the U.S. or opening new accounts.
Voice of America News reports the advisory follows a warning by the Financial Action Task Force (FATF) urging member countries to protect the global financial system from threats of money laundering and terror-sponsoring funds.
The FATF is a global consortium of 35 nations and two international organizations. It has maintained North Korea on its list of countries that require "counter measures" since 2011.
The network said this public statement from the FATF underlines a spread of financial risks related to Pyongyang which is also indicated in a UN resolution.
[Photo : YONHAP News]