US Treasury further restricts North Korea’s access to US financial system

The US Treasury has issued a new final rule (link here), further restricting North Korea’s access to the US financial system.  The new rule, issued by the Treasury’s Financial Crimes Enforcement Network (FinCEN), prohibits US financial institutions from opening or maintaining correspondent accounts for North Korean banks, and requires US financial institutions to apply additional due diligence measures in order...

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About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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