OFAC continues to expand North Korean sanctions

Financial Crimes Department of Treasury OFAC Sanctions International

On January 24, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) imposed additional sanctions in response to North Korea's ongoing weapons development programs, continued sanctions evasions, and United Nations Security Council Resolutions violations. The sanctions were issued against nine entities, 16 individuals, and six vessels pursuant to Executive Orders 13810 or 13687. Five of the sanctioned individuals have links to North Korean financial networks, with several of the individuals in possession of accounts held at Chinese banks. All property held by the sanctioned individuals and entities within U.S. jurisdiction was frozen, and transactions between the sanctioned individuals and entities and Americans are also prohibited.

See here for previous InfoBytes coverage on North Korean sanctions.