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VOA: US Treasury Department Issues Advisory on Financial Transactions with N. Korea

News2019-07-15
VOA: US Treasury Department Issues Advisory on Financial Transactions with N. Korea

The U.S. Department of the Treasury recently issued an advisory on financial transactions with North Korea, citing statements by a Paris-based intergovernmental organization.

According to Voice of America(VOA) on Saturday, the Treasury cited a June statement by the Financial Action Task Force(FATF) in an advisory issued the previous day. 

The statement said North Korea has failed to crack down on money laundering and taken inadequate steps to combat the financing of terrorism.

The organization said North Korea’s inaction in these spaces raises serious concerns about the integrity of the international financial system.

The Treasury also reiterated U.S. and UN sanctions remain in place against North Korea.

The department issues advisories for financial institutions two or three times each year through its Financial Crimes Enforcement Network bureau.

[Photo : YONHAP News]

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