# Imposition of Special Measure Against North Korea as a Jurisdiction of Primary Money Laundering Concern
> **FinCEN** · Final rule. · Published 2016-11-09 · Effective 2016-12-09 · 81 FR 78715
## Document
- **Document number:** 2016-27049
- **Category:** aml-bsa-fincen
- **Sub-agency:** FinCEN
- **Federal Register citation:** 81 FR 78715
- **CFR reference:** 31 CFR 1010
- **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
- [Federal Register document](https://www.federalregister.gov/documents/2016/11/09/2016-27049/imposition-of-special-measure-against-north-korea-as-a-jurisdiction-of-primary-money-laundering)
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