The Treasury Department’s Office of Foreign Assets Control today announced sanctions against eight North Korean banks, two banks identified as part of the North Korean government and 26 individuals linked to North Korean financial networks. The new sanctions come as North Korea continues pursuing weapons of mass destruction capabilities. The individuals sanctioned are North Korean nationals acting as representatives of North Korean banks in China, Russia, Libya and the United Arab Emirates.
Banking agencies pledge more scrutiny of core provider business practices
The federal banking agencies pledged to step up oversight of third-party core providers whose business practices “unreasonably limit” community banks from conducting due diligence or from negotiating contract terms that address the banks’ business needs.








