The House Committee on Foreign Affairs Friday advanced a measure that would bar foreign banks linked to North Korean weapons proliferation and financial crime from holding U.S. correspondent accounts.
In a response to cyber-attacks on Sony Pictures Entertainment, President Obama signed an executive order Friday authorizing new sanctions against North Korea.
Banks in China, Southeast Asia and Europe will soon see their compliance duties get tougher under new U.N. sanctions measures aimed at stifling North Korea's nuclear arms program, say analysts.
Although American financial institutions and the North Korean government rarely cross paths, U.S. officials have numerous avenues to sanction the Asian country for its latest nuclear weapons test, say attorneys.
The United States expanded economic sanctions measures against North Korea Monday, blacklisting 12 entities and individuals and issuing an executive order under which new prohibitions can be enacted.
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