The U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) announced Friday a finalized set of regulations enforcing the blacklisting of North Korea earlier this year as a "primary money laundering concern."
 
Since announcing the planned blacklisting first in June, the Treasury has since been gathering opinions on ways of implementation including through public hearings.
 
Under the regulations, known as the "final rule," enforced from Friday, North Korea is banned from any financial transactions with the U.S. Financial institutions in a third country such as China can also be restricted in transactions with the North.
 
A suspended transaction is the strongest of five provisions stated in Section 311 of the U.S. Patriot Act that allows a country to be the designated as a money laundering concern.
 
The move reflects Washington's determination to choke off the financial network of Pyongyang on all fronts which continues nuclear and missile provocations. 
 
The designation is also aimed at effects equal to what's called a secondary boycott, targeting other countries that transact with the North.
 
The U.S. had named Myanmar, Iran, Ukraine and the Republic of Nauru as money laundering concerns but only Myanmar and Iran remain on the list at present. With the addition of North Korea, now three countries are on the U.S. blacklist.

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