The United States has designated North Korea a “primary money laundering concern” under section 311 of the Patriot Act, the U.S. Department of Treasury announced on Wednesday.
The designation – which puts at risk of sanctions any bank which does business with the DPRK – applies further financial measures against North Korea with the aim of isolating the country from the U.S. and international banking systems.
The United States has designated North Korea a “primary money laundering concern” under section 311 of the Patriot Act, the U.S. Department of Treasury announced on Wednesday.
The designation – which puts at risk of sanctions any bank which does business with the DPRK – applies further financial measures against North Korea with the aim of isolating the country from the U.S. and international banking systems.
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