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


  • World
  • Thursday, 02 Jun 2016

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.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In World

Spain prosecutor requests dismissal of corruption case against PM Sanchez's wife
India says US human rights report "deeply biased"
Lawyers seek UN help for release of American held by the Taliban
Hush money testimony expected to focus on payment to ex-Playboy model
Explainer-How Trump's immunity claim stalled 2020 election subversion case
Kremlin says U.S. long-range missiles sent to Ukraine will not change war's outcome
More than 100 inmates escape after rain damages Nigerian prison
African migrant disaster survivor haunted by weeks lost at sea
Most global tech leaders see their companies unprepared for AI
India's poll panel seeks responses to complaints against Modi, Rahul Gandhi

Others Also Read