June 02, 2016 08:19
The United States is taking action to block North Korea's access to global financial systems, an effort aimed at preventing money laundering.
The Treasury Department on Wednesday designated North Korea as a "primary money-laundering concern."
"The regime is notoriously deceitful in its financial transactions in order to continue its illicit weapons programs and other destabilizing activities," it said in a statement.
"The United States, the U.N. Security Council and our partners worldwide remain clear-eyed about the significant threat that North Korea poses to the global financial system."
In March, the U.N. Security Council passed a resolution requiring all UN members to cut off banking relations with Pyongyang for its continued missile tests.
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