EXECUTIVE ORDER AUTHORIZES CLOSING CORRESPONDENT ACCOUNTS OF FOREIGN BANKS THAT WORK WITH NORTH KOREA

EXECUTIVE ORDER AUTHORIZES CLOSING CORRESPONDENT ACCOUNTS OF FOREIGN BANKS THAT WORK WITH NORTH KOREA

User Rating: 5 / 5

Star ActiveStar ActiveStar ActiveStar ActiveStar Active
 

By Executive Order, President Donald Trump has today given the Secretary of the Treasury authority to close correspondent accounts of foreign banks that have transactions benefiting North Korea, in addition to massive other sanctions. Readers who wish to review the complete text of the Executive Order may access it here.

Chronicles of Monte Friesner - Financial Crime Analyst

Contributed by Kenneth Rijock - Financial Crime Consultant