The U.S. House of Representatives is poised to pass a bill that would make it harder for North Korea to be removed from sanctions lists. The bill states that North Korea cannot be removed from the U.S. State Sponsors of Terrorism list unless it shows that it has stopped helping other terrorism sponsors develop nuclear weapons. The country, accused by the United States of passing nuclear secrets to so-called "rogue states," is one of five sanctioned under the list. The measure, which is expected to pass a House vote this month, would require that North Korea provide a "complete and...
Compliance officers at some of the world's largest financial institutions are concluding they need to create sanctions-specific programs to avoid regulatory penalties and tarnished reputations, according to a Deloitte survey released Monday.
Economic sanctions expected against North Korea over its test of a nuclear bomb will likely include companies in China, South Korea, Thailand and Russia linked to trade with the communist nation, say consultants.
A decision by the Bush administration to remove North Korea from its state sponsors of terror list will have little impact on how financial institutions and other companies deal with the Asian country.
Treasury officials have collected enough information to quickly resolve a disagreement involving Banco Delta Asia, a Treasury Department official said. Officials last month began talks with North Korea over its alleged involvement in counterfeiting and laundering money through the bank.