December 06, 2023

OFAC sanctions North Korean banks and bank employees

New measures do not include any non-North Korean individuals, entities

The U.S. Department of the Treasury issued new sanctions against North Korean individuals and entities on Tuesday, targeting numerous DPRK nationals working abroad and several of the country's banks.

In total, eight North Korean banks and 26 individuals were designated by the Treasury's Office of Foreign Assets Control (OFAC).