August 17, 2022

FATF expected to keep North Korea sanctions

Changes unlikely in light of U.S. 'money-laundering concern' designation

The international anti-money laundering organization will discuss measures to implement sanctions against North Korea’s military threats at its meeting from Wednesday to Friday, despite Pyongyang’s new anti-money laundering law, adopted last month.

The Financial Action Task Force (FATF) will organize this year’s meeting in Busan, South Korea. The discussion will mainly evaluate and endorse the implementation of anti-money laundering measures, and decide whether to maintain blacklists on countries such as Iran and North Korea.