US Tightens Restrictions for Banks Working With North Korean Diplomats

© Maria Frolova / Go to the mediabankForeign Countries. North Korea
Foreign Countries. North Korea - Sputnik International
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The united States has tightened restrictions dor banks that do business with the DPRK's diplomats.

South Korean army soldiers take part in a drill against possible attack by North Korean troops (File) - Sputnik International
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WASHINGTON (Sputnik) — US banks are no longer permitted to operate accounts for North Korean diplomats and all funds transfers must be done through specially-licensed institutions, the US Department of the Treasury Office of Foreign Assets Control (OFAC) said in a statement.

"General License 1-A no longer authorizes US financial institutions to open and operate accounts for the diplomatic mission of North Korea and its employees and their families," OFAC stated on Tuesday.

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