2016-06-03

Added · Updated

Imposition of Special Measure Against North Korea as a Jurisdiction of Primary Money Laundering Concern

The Financial Crimes Enforcement Network proposes to prohibit covered financial institutions from opening or maintaining a correspondent account in the United States for or on behalf of a North Korean banking institution. The proposal also prohibits the use of foreign banking institutions’ correspondent accounts at covered U.S. financial institutions to process transactions involving North Korean financial institutions. Additionally, covered financial institutions would be required to apply special due diligence to their foreign correspondent accounts to guard against their use for such transactions. Written comments on this notice of proposed rulemaking must be submitted on or before August 2, 2016.

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Uniting and Strengthening Ameri…2001Imposition of Special MeasureAgainst North Korea as a Juri…2016-06-03 · this document
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Source: Financial Crimes Enforcement Network — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

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