RealNews

U.S. Banks Are Warned on North Korea

The Bush administration has issued a warning to U.S. banks that North Korea may try to use them to carry out illicit activities. The advisory from the Treasury Department’s Financial Crimes Enforcement Network represents the latest effort by the United States to financially clamp down on North Korea. “U.S. financial institutions should take reasonable steps to guard against the abuse of their financial services by North Korea, which may be seeking to establish new or exploit existing account relationships for the purpose of conducting illicit activities,” according to the advisory, which was dated Tuesday. Full Story

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