Russia to examine whether agents obstructed money-laundering investigation in Moldova, Irish credit union fined for broad AML compliance failures, and more, in this week's roundup.
U.S. President Barack Obama signed an executive order on Tuesday clearing the way for sanctions against a broad array of foreign businesses operating on behalf of or within North Korea.
U.N. Security Council sanctions imposed on North Korea last week could require U.S. financial institutions to more effectively scrutinize correspondent transactions and trade financing linked to corporate accounts in Asia, according to compliance sources.
China will continue playing an outsized role in international efforts to deter North Korea from advancing its nuclear weapons program but South Korea and the United States also "have much more work left to do," according to Washington, D.C. attorney Joshua Stanton.
The U.S. Treasury Department's sanctions arm blacklisted Korea Daesong Bank Thursday for its alleged ties to a branch of the North Korean communist government.
The United Nations Security Council Friday unanimously approved strengthening trade and economic sanctions against North Korea, including the reinstitution of financial freezes passed but not acted on in 2006.
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