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

aml-bsa-fincen · FinCEN · Rule · Published 2016-11-09 · Effective 2016-12-09 · 81 FR 78715

Document

Document number
2016-27049
Federal Register citation
81 FR 78715
CFR reference
31 CFR 1010
Type
Rule
Action
Final rule.
Category
aml-bsa-fincen
Sub-agency
FinCEN
Publication date
2016-11-09
Effective date
2016-12-09

Abstract

FinCEN is issuing this final rule to prohibit U.S. financial institutions from opening or maintaining a correspondent account for, or on behalf of, North Korean banking institutions. The rule further prohibits U.S. financial institutions from processing transactions for the correspondent account of a foreign bank in the United States if such a transaction involves a North Korean financial institution, and requires institutions to apply special due diligence to guard against such use by North Korean financial institutions.

Source

Authoritative
Federal Register document
Machine
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