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Weekly Roundup: Lawmakers Propose New North Korea Sanctions, Egypt Limits Dollar Deposits, and More
printThe chairman and ranking member of the U.S. House Foreign Affairs Committee introduced legislation Thursday that would bar banks involved in North Korea's nuclear proliferation, smuggling and money laundering activities from holding correspondent accounts in the United States. The North Korea Sanctions and Enforcement Act, which follows the cyberattack in November on Sony Pictures, also calls upon the White House to determine if the country is a jurisdiction of "primary money laundering concern." More Japan-based Olympus Corp. is in talks with the U.S. Justice Department to settle allegations that it broke fraud and bribery laws, Reuters reported Friday. More The...
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