March 01, 2021

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SWIFT blocks four more North Korean banks

The financial messaging service has barred seven DPRK banks since March 9

A further four North Korean banks were blocked from the world’s primary financial messaging service on Thursday, as they were not in-line with the organization’s membership criteria.

The SWIFT (Society for Worldwide Interbank Financial Telecommunication) system allows banks and financial institutions to communicate about transactions and trades. But this month SWIFT has blocked seven DPRK banks from using its services.