U.S. takes more steps to block North Korea's access to financial system

North Korean leader Kim Jong Un looks at a rocket warhead tip after a simulated test of atmospheric re-entry of a ballistic missile, at an unidentified location in this undated file photo released by North Korea's Korean Central News Agency (KCNA) in Pyongyang on March 15, 2016. REUTERS/KCNA/File photo

WASHINGTON (Reuters) - The United States on Wednesday declared North Korea a "primary money laundering concern," and moved to further block its ability to use the U.S. and world financial systems to fund its weapons programs.

The U.S. Treasury Department called for a prohibition on certain U.S. financial institutions opening or maintaining correspondent accounts, which are established to receive deposits from or make payments on behalf of a foreign institution, with North Korean financial institutions.