North Korea

From Sanctions Wiki

1 UN
2 EU
3 NL
4 UK
5 Swiss
6 Australia
7 Canada
8 China
9 Hong Kong
10 Japan
11 New Zealand
12 Singapore
13 US
14 FATF Warning List
- 14.1 US FinCen – AML/CFT Deficiencies Warning List

UN

March 07, 2013 – U.N. Security Council Passes New Sanctions on North Korea

The United Nations Security Council approved a new regimen of sanctions on Thursday against North Korea for its underground nuclear test last month in a unanimous vote that came just hours after North Korea threatened for the first time to launch a pre-emptive nuclear strike against the United States and South Korea. Source: NYT

The tougher sanctions impose penalties on North Korean banking, travel and trade and were passed in a 15-0 vote that reflected the country’s increased international isolation. China, the North’s longtime benefactor, helped the United States draft the sanctions resolution in what outside experts called a sign of Beijing’s growing annoyance with Pyongyang’s defiant behavior on the nuclear issue. The Chinese had entreated the North Koreans not to proceed with the Feb. 12 underground nuclear test, their third. Source: NYT

UNSCR 2087 (2013) Non-proliferation UNSCR 2087/2013
UNSCR 1985 (2011) Non-proliferation – Democratic People’s Republic of Korea UNSCR 1985/2011
UNSCR 1874 (2009) UN Press Release & UNSCR 1874(2009)
UNSCR 1718 (2006) UN Press Release & UNSCR 1718/2006
UNSCR 1718 (2006) UN Arms Sanctions (SIPRI)
UNSCR 1695 (2006) UNSCR 1695/2006
UNSCR 1540 (2004) UNSCR 1540/2004
UNSCR 0825 (1993) UNSCR 0825/1993

Embargo on arms and related materiel
Ban on exports of certain goods and technology listed by the UN
Prohibition of procurement of arms, related materiel and other goods and technology listed by the UN
Ban on provision of certain services
Ban on exports of luxury goods
Restrictions on admission
Freezing of funds and economic resources
Commitment to take cooperative action to prevent illicit trafficking in nuclear, chemical or biological weapons, ballistic missiles and their means of delivery, related materials and technology
Ban on import and purchase of goods and technology listed by the UN
List of goods and technology subject to ban on exports and imports (other than luxury goods)

EU

July 24, 2013 – Regulation (EU) No 696/2013 of 22 July 2013 amending Regulation (EC) No 329/2007 concerning restrictive measures against the Democratic People’s Republic of Korea

April 23, 2013 – Implementing Regulation (EU) No 370/2013 of 22 April 2013 amending Council Regulation (EC) No 329/2007 concerning restrictive measures against the Democratic People’s Republic of Korea. Annex IV to Regulation (EC) No 329/2007 is amended as follows:

The following entries shall be added under the heading ‘A. Natural persons’:

‘Yo’n Cho’ng Nam. Post: Chief Representative for the Korea Mining Development Trading Corporation (KOMID). Date of designation: 7.3.2013.’
‘Ko Ch’o’l-Chae. Post: Deputy Chief Representative for the Korea Mining Development Trading Corporation (KOMID). Date of designation: 7.3.2013.’
‘Mun Cho’ng-Ch’o’l. Post: TCB official. Date of designation: 7.3.2013.’

The following entries shall be added under the heading ‘B. Legal persons, entities and bodies’:

‘Second Academy of Natural Sciences (aka (a) 2nd Academy of Natural Sciences; (b) Che 2 Chayon Kwahakwon; (c) Academy of Natural Sciences; (d) Chayon Kwahak-Won; National Defense Academy; (e) Kukpang Kwahak-Won; (f) Second Academy of Natural Sciences Research Institute; (g) Sansri). Address: Pyongyang, DPRK. Date of designation: 7.3.2013.’
‘Korea Complex Equipment Import Corporation. Other information: Korea Ryonbong General Corporation is the parent company of Korea Complex Equipment Import Corporation. Location: Rakwon-dong, Pothonggang District, Pyongyang, DPRK. Date of designation: 7.3.2013.’

April,10, 2013 – The EU and the Democratic People’s Republic of Korea

Overview of EU-DPRK relations – The EU has three key interests regarding DPRK: regional peace and stability; denuclearisation / non-proliferation and human rights. The EU’s policy is balanced between a firm and principled stance on non-proliferation (defending global non-proliferation/the Non-proliferation Treaty is a key EU objective) and advancing human rights. EU Fact Sheet

March 26, 2013 – EU Implementing Regulation (EU) No 296/2013 of 26 March 2013 amending Regulation (EC) No 329/2007 concerning restrictive measures against the Democratic People’s Republic of Korea

February 18, 2013 – EU Implementing Regulation (EU) No 137/2013 – of 18 February 2013 amending Council Regulation (EC) No 329/2007 concerning restrictive measures against the Democratic People’s Republic of Korea

December 21, 2011 – EU Implementing Regulation (EU) No 1355/2011 – This notification is issued in respect of the restrictive measures directed against the Democratic People’s Republic of Korea.

Additions – Individuals <sort> TO-CHUN, Pak – DOB: 09/03/1944 – POB: Jagang, Rangrim – Position: Member of the National Security Council TONG-MYO’NG, Kim – DOB: –/–/1964 – a.k.a: CHIN-SO’K, Kim – Nationality: North Korean – Position: Acts on behalf of Tanchon Commercial Bank YONG CHOL, Kim – Title: Lieutenant General – DOB: –/–/1946 – POB: Pyongan-Pukto, Democratic People’s Republic of Korea – a.k.a: (1) YONG-CHOL, Kim – (2) YOUNG-CHEOL, Kim – (3) YOUNG-CHOL, Kim – (4) YOUNG-CHUL, Kim – Position: Commander of Reconnaissance General Bureau (RGB) </sort> Additions – Entities <sort> AMROGGANG DEVELOPMENT BANKING CORPORATION – a.k.a: (1) Amnokkang Development Bank – (2) Amroggang Development Bank – Address: Tongan-dong, Pyongyang – Other Information: Owned or controlled by Tanchon Commercial Bank. BANK OF EAST LAND – a.k.a: (1) Dongbang Bank – (2) Tongbang Bank – (3) Tongbang U’nhaeng – Address: PO Box 32, BEL Building, Jonseung-Dung, Moranbong District, Pyongyan HESONG TRADING CORPORATION – Address: Pyongyang – Other Information: Controlled by Korea Mining Development Corporation (KOMID). KOREA COMPLEX EQUIPMENT IMPORT CORPORATION – Address: Rakwon-dong, Pothonggang District, Pyongyang – Other Information: Controlled by Korea Ryonbong General Corporation. KOREA INTERNATIONAL CHEMICAL JOINT VENTURE COMPANY – a.k.a: (1) Choson International Chemicals Joint Operation Company – (2) Chosun International Chemicals Joint Operation Company – (3) International Chemical Joint Venture Corporation – Address: (1) Mangyungdae-gu, Pyongyang – (2) Man gyongdae-kuyok, Pyongyang – (3) Hamhung, South Hamgyong Province – Other Information: Controlled by Korea Ryonbong General Corporation. KOREA KWANGSON BANKING CORP. (KKBC) – Address: Jungson-dong, Sungri Street, Central District, Pyongyang – Other Information: Subordinate acting on behalf of or at the direction of, owned or controlled by the Korea Ryonbong General Corporation. KOREA KWANGSONG TRADING CORPORATION – Address: Rakwon-dong, Pothonggang District, Pyongyang – Other Information: Controlled by Korea Ryonbong General Corporation. KOREA RYONHA MACHINERY JOINT VENTURE CORPORATION – a.k.a: (1) Chosun Yunha Machinery Joint Operation Company – (2) Korea Ryenha Machinery J/V Corporation – (3) Ryonha Machinery Joint Venture Corporation – Address: (1) Mangyongdae District, Pyongyang – (2) Mangungdae-gu, Pyongyang – (3) Central District, Pyongyang – Other Information: Controlled by Korea Ryonbong General Corporation. MUNITIONS INDUSTRY DEPARTMENT – a.k.a: Military Supplies Industry Department – Address: Pyongyang – Other Information: Responsible for overseeing activities of North Korea’s military industries. OFFICE 39 OF THE KOREAN WORKERS’ PARTY – a.k.a: (1) Bureau 39 – (2) Central Committee – (3) Office #39 – (4) Office No. 39 – (5) Third Floor Division 39 – Address: (1) Changgwang – treet, Pyongyang – (2) Chung-Guyok, Central District, Sosong Street, Kyongrim-Dong, Pyongyang – (3) Second KWP Government Building (Ch’o’ngsa), Chungso’ng, Urban Tower 3 – Korean’Dong), Chung Ward, Pyongyang – Other Information: Engages in illicit economic activity to support the North Korean government. RECONNAISSANCE GENERAL BUREAU (RGB) – a.k.a: (1) Chongch’ai Ch’ongguk – (2) KPA Unit 586 – Address: (1) Nungrado, Pyongyang, Democratic People’s Republic of Korea – (2) Hyongjesan-Guyok, Pyongyang, Democratic People’s Republic of Korea – Other Information: North Korea’s premiere intelligence organisation. TOSONG TECHNOLOGY TRADING CORPORATION – Address: Pyongyang – Other Information: Controlled by the Korea Mining Development Corporation (KOMID). </sort> Amendment – Entity

GREEN PINE ASSOCIATED CORPORATION – a.k.a: (1) Chongsong Yonhap – (2) Ch’o’ngsong Yo’nhap – (3) Saengpil Associated Company – (4) General Precious Metal Complex (GPM) – (5) Myong Dae Company – Address: c/o Reconnaissance General Bureau Headquarters, Hyongjesan-Guyok, – (6) Twin Dragon Trading (TDT) – Pyongyang/Nungrado, Pyongyang, Democratic People’s Republic of Korea – Other Information: Exports arms or related material. Taken over many of the activities of KOMID.

COUNCIL REGULATION (EU) No 1283/2009

Council Common Position 2009/573/CFSP of 27 July 2009
- ( 1 ) and Council Decision 2009/1002/CFSP of 22 December 2009
- ( 2 ) amending Common Position 2006/795/CFSP concerning restrictive measures against the Democratic People’s Republic of Korea.

COUNCIL REGULATION (EC) No 329/2007 of 27 March 2007 concerning restrictive measures against the Democratic People’s Republic of Korea.

In order to implement the UN arms embargo on North Korea, the European Union member states adopted Common Position 2006/795/CFSP in November 2006. The EU embargo, inter alia, prohibits the transfer of all arms and related materiel to North Korea. EU Arms Sanctions

General information EU Sanctions on DPRK.

NL

Dutch Sanction Law 1977 – North Korea 2007

UK

July 24, 2013 – Regulation (EU) No 696/2013 of 22 July 2013 amending Regulation (EC) No 329/2007 concerning restrictive measures against the Democratic People’s Republic of Korea

UK-EU Sanctions

The following entries shall be added under the heading ‘A. Natural persons’:

‘Yo’n Cho’ng Nam. Post: Chief Representative for the Korea Mining Development Trading Corporation (KOMID). Date of designation: 7.3.2013.’
‘Ko Ch’o’l-Chae. Post: Deputy Chief Representative for the Korea Mining Development Trading Corporation (KOMID). Date of designation: 7.3.2013.’
‘Mun Cho’ng-Ch’o’l. Post: TCB official. Date of designation: 7.3.2013.’

The following entries shall be added under the heading ‘B. Legal persons, entities and bodies’:

‘Second Academy of Natural Sciences (aka (a) 2nd Academy of Natural Sciences; (b) Che 2 Chayon Kwahakwon; (c) Academy of Natural Sciences; (d) Chayon Kwahak-Won; National Defense Academy; (e) Kukpang Kwahak-Won; (f) Second Academy of Natural Sciences Research Institute; (g) Sansri). Address: Pyongyang, DPRK. Date of designation: 7.3.2013.’
‘Korea Complex Equipment Import Corporation. Other information: Korea Ryonbong General Corporation is the parent company of Korea Complex Equipment Import Corporation. Location: Rakwon-dong, Pothonggang District, Pyongyang, DPRK. Date of designation: 7.3.2013.’

UK-EU Sanctions

April 05, 2013 – UK Implementing Regulation (EU) No 296/2013 of 26 March 2013 amending Regulation (EC) No 329/2007 concerning restrictive measures against the Democratic People’s Republic of Korea

UK-EU Sanctions

February 19, 2013 – UK Implementing Regulation (EU) No 137/2013 – of 18 February 2013 amending Council Regulation (EC) No 329/2007 concerning restrictive measures against the Democratic People’s Republic of Korea

UK-EU Sanctions

December 21, 2011 – UK Implementing Regulation (EU) No 1355/2011 – This notification is issued in respect of the restrictive measures directed against the Democratic People’s Republic of Korea.

GREEN PINE ASSOCIATED CORPORATION – a.k.a: (1) Chongsong Yonhap – (2) Ch’o’ngsong Yo’nhap – (3) Saengpil Associated Company – (4) General Precious Metal Complex (GPM) – (5) Myong Dae Company – Address: c/o Reconnaissance General Bureau Headquarters, Hyongjesan-Guyok, – (6) Twin Dragon Trading (TDT) – Pyongyang/Nungrado, Pyongyang, Democratic People’s Republic of Korea – Other Information: Exports arms or related material. Taken over many of the activities of KOMID.

UK-EU 1355/2011

By the adoption of UNSCR 1718 (2006) on 14 October 2006, the United Nations introduced restrictions on a range of goods from entering or leaving the North Korea and imposed a travel ban and an asset freeze against those persons designated by the competent UN Security Council Sanctions Committee or by the Security Council as persons who engage in or provide support for, including through other illicit means, North Korea’s nuclear-related, other weapons of mass destruction-related and ballistic missile-related programmes.

The Sanctions Committee first designated targets on 24 April 2009.

UK Sanctions

Swiss

July 03, 2013 – Verschärfung der Sanktionen gegenüber Nordkorea

Bern, 03.07.2013 – Der Bundesrat hat am 3. Juli 2013 die Sanktionen gegenüber Nordkorea in verschiedenen Bereichen verschärft. Er setzt damit Resolution 2094 (2013) des UNO-Sicherheitsrats um. Die neuen Bestimmungen treten am 4. Juli 2013 in Kraft.

Gemäss der angepassten Verordnung über Massnahmen gegenüber der Demokratischen Volksrepublik Korea gelten die Finanzsanktionen (Einfrieren von Vermögenswerten) für einen erweiterten Personenkreis. Zudem untersagt die Verordnung das Erbringen von Finanzdienstleistungen und das Zurverfügungstellen von Finanzmitteln im Zusammenhang mit dem nordkoreanischen Nuklear- oder Raketenprogramm und anderen verbotenen Aktivitäten. Gelder, die einen Zusammenhang mit dem nordkoreanischen Nuklear- oder Raketenprogramm oder anderen verbotenen Aktivitäten aufweisen, werden eingefroren. Der von der Ein- und Durchreisesperre betroffene Personenkreis wurde ebenfalls ausgeweitet. Schliesslich wurde die Liste von verbotenen Gütern, welche im Nuklear- und Raketenbereich verwendet werden können, sowie die Liste von Luxusgütern, die nicht nach Nordkorea exportiert werden dürfen, ergänzt.

Aufgrund des nordkoreanischen Nukleartests am 12. Februar 2013 nahm der UNO-Sicherheitsrat am 7. März 2013 die Resolution 2094 (2013) an, mit welcher die Massnahmen gegenüber Nordkorea weiter verschärft wurden. Mit der angepassten Verordnung setzt die Schweiz diese Beschlüsse um.

Der UNO-Sicherheitsrat hatte aufgrund des nordkoreanischen Nuklearprogramms bereits früher Sanktionsmassnahmen gegenüber diesem Land ergriffen. Der Bundesrat verabschiedete am 25. Oktober 2006 die Verordnung über Massnahmen gegenüber der Demokratischen Volksrepublik Korea, welche seither mehrmals verschärft wurde. Damit setzt die Schweiz die Resolutionen 1718 (2006), 1874 (2009), 2087 (2013) und 2094 (2013) des UNO-Sicherheitsrats um.

Swiss Sanctions

March 26, 2013 – Massnahmen gegenüber der Demokratischen Volksrepublik Korea (Nordkorea)

Swiss Sanctions

February 05, 2013 – Massnahmen gegenüber der Demokratischen Volksrepublik Korea (Nordkorea)

Sanctions program: Nordkorea: Verordnung vom 25. Oktober 2006 über Massnahmen gegenüber der Demokratischen Volksrepublik Korea (SR 946.231.127.6), Anhang 3 Origin: UN Sanctions: Art. 3 Abs. 1 (Finanzsanktionen) und Art. 5 Abs. 1 (Ein- und Durchreiseverbot)

Swiss Sanctions

May 18, 2012 – Anhang 3 der Verordnung vom 25. Oktober 20062 über Massnahmen gegenüber der Demokratischen Volksrepublik Korea erhält die neue Fassung gemäss Beilage.

Swiss Sanctions

Massnahmen gegenüber der Demokratischen Volksrepublik Korea (Nordkorea)

Der Bundesrat hat am 25.10.2006 Zwangsmassnahmen gegenüber der Demokratischen Volksrepublik Korea beschlossen und eine entsprechende Verordnung erlassen. Mit dieser Verordnung setzt die Schweiz die UNO-Sicherheitsratsresolution 1718 (2006) und 1874 (2009) um.

Die Verordnung sieht folgende Massnahmen gegenüber Nordkorea vor:

Gütersanktionen

Die Lieferung, der Verkauf und die Durchfuhr von Rüstungsgütern jeder Art nach Nordkorea sind verboten. (Art. 1 Abs. 1). Das SECO kann für Kleinwaffen und leichte Waffen Ausnahmen bewilligen. (Art. 1 Abs. 4ter)
Die Lieferung, der Verkauf und die Durchfuhr von Gütern, einschliesslich Technologien und Software, die im Zusammenhang mit Massenvernichtungswaffenprogrammen und Trägersystemen verwendet werden können, nach Nordkorea sind verboten. (Art. 1 Abs. 2; Anhang 1)
Die Beschaffung, der Kauf und die Durchfuhr der genannten Güter aus Nordkorea sind ebenfalls untersagt. (Art. 1 Abs. 3)
Die Bestimmungen der schweizerischen Kriegsmaterial- und Güterkontrollgesetzgebung bleiben vorbehalten. (Art. 1 Abs. 5)
Die Lieferung, der Verkauf und die Durchfuhr von Luxusgütern nach Anhang 2 nach Nordkorea sind verboten. (Art. 2)

Dienstleistungssanktionen

Es ist verboten, Dienstleistungen aller Art im Zusammenhang mit der Lieferung, dem Verkauf, der Durchfuhr, der Beschaffung, der Herstellung, dem Unterhalt oder der Verwendung von Gütern nach Art. 1 Abs. 1 und 2 zu erbringen oder in Anspruch zu nehmen. (Art. 1 Abs. 4)

Sanktionen im Finanzbereich

Es ist verboten, Finanzdienstleistungen im Zusammenhang mit der Lieferung, dem Verkauf, der Durchfuhr, der Beschaffung, der Herstellung, dem Unterhalt oder der Verwendung von Gütern nach Art. 1 Abs. 1 und 2 zu erbringen oder in Anspruch zu nehmen. (Art. 1 Abs. 4)
Es ist verboten, Finanzmittel im Zusammenhang mit der Lieferung, dem Verkauf, der Durchfuhr, der Beschaffung, der Herstellung, dem Unterhalt oder der Verwendung von Gütern nach Art. 1, Abs. 1 und 2 zu gewähren oder entgegen zu nehmen. (Art. 1 Abs. 4bis)
Gelder und Vermögenswerte, die sich im Eigentum oder unter der Kontrolle der natürlichen Personen, Unternehmen und Organisationen nach Anhang 3 befinden, sind gesperrt. Es ist verboten, den von der Sperrung betroffenen Sanktionsadressaten Gelder zu überweisen oder Gelder und Vermögenswerte sonstwie direkt oder indirekt zur Verfügung zu stellen. Das SECO kann für bestimmte Fälle Ausnahmen bewilligen. (Art. 3)
Personen und Institutionen, die Gelder halten oder verwalten oder von Vermögenswerten wissen, von denen anzunehmen ist, dass sie unter die Sperrung fallen, müssen dies dem SECO unverzüglich melden. Die Meldungen müssen die Namen der Begünstigten sowie Gegenstand und Wert der gesperrten Gelder und wirtschaftlichen Ressourcen enthalten. (Art. 7)

Reisesanktionen

Die Einreise in die Schweiz oder die Durchreise durch die Schweiz ist den in Anhang 4 der Verordnung aufgeführten natürlichen Personen verboten.

Swiss Sanctions

Australia

UN Based Sanctions – On 14 October 2006 the United Nations Security Council (UNSC) adopted resolution 1718 (2006) imposing sanctions in relation to the Democratic People’s Republic of Korea in response to a test of a nuclear weapon on 9 October 2006, which it deemed a threat to the Treaty on the Non-Proliferation of Nuclear Weapons and to international efforts aimed at strengthening the global regime of non-proliferation of nuclear weapons, and a danger to peace and stability in the region and beyond. The sanctions were renewed and extended by UNSC resolution 1874 (2009).

As a consequence, Australian law now prohibits various conduct, for more information Australia Sanctions

Australia Based Sanctions – Following North Korea’s missile and nuclear tests in 2006, Australia has had autonomous sanctions in place against North Korea. These measures are in addition to Australia’s implementation of United Nations Security Council sanctions against North Korea.

Australia’s autonomous sanctions against North Korea currently cover:

Targeted financial sanctions (implemented by the Reserve Bank of Australia)
- Restrictions on certain financial transactions involving named entities and/or individual(s) associated with North Korea’s WMD and missile programs, in place since 19 September 2006.
- Special Gazette Notice: S176, Tuesday 19 September 2006
- A list of these persons and entities
- Reserve Bank of Australia sanctions website

Travel restrictions
- General ban on visas to travel to Australia by North Korean nationals, in place since 10 October 2006.
- Migration Regulations 1994, Regulation 2.43(1)(a)(i)(A) and Public Interest Criterion 4003(a)

Ban on port access for North Korea flagged vessels
- In place since 10 October 2006.
- Maritime Transport and Offshore Facilities Act 2003

Information on Australian laws implementing United Nations Security Council sanctions against North Korea. More information about UN Security Council sanctions.

General information (this page) Australia Sanctions

Canada

On August 11, 2011, Canada imposed sanctions against North Korea under the Special Economic Measures Act. These sanctions are in addition to existing sanctions passed under the United Nations Act. The Special Economic Measures (DPRK) Regulations came into force to reinforce the message to the North Korean government that its agressive actions, such as the sinking of the Cheonan, are unacceptable.

The Regulations provide for the following:

ban on all exports;
ban on all imports to Canada from North Korea;
ban on all new investment in North Korea;
ban on the provision of financial services to North Korea and to persons in North Korea;
ban on the provision of technical data to North Korea, and
ban on the docking and landing in, and transiting of, Canada by North Korean ships and aircraft.

Some exceptions are available, including the following:

humanitarian efforts and goods, such as food and medical supplies or equipment;
stabilization and reconstruction assistance and activities;
financial or other support provided by the Government of Canada; and
non-commercial remittances.

In addition, the Special Economic Measures (DPRK) Permit Authorization Order, made pursuant to subsection 4(4) of the Special Economic Measures Act authorizes the Minister of Foreign Affairs to issue to any person in Canada or any Canadian outside Canada a permit to carry out a specified activity or transaction, or any class of activity or transaction, that is restricted or prohibited pursuant to the Regulations. Canada Sanctions on North Korea – Augustus 11, 2011

On 14 October 2006, acting under Chapter VII of the Charter of the United Nations, the United Nations Security Council adopted Resolution 1718 (2006) imposing sanctions against the Democratic People’s Republic of Korea (DPRK) in response to a claim by the DPRK that it conducted a test of a nuclear weapon on October 9, 2006. On June 12, 2009, the Security Council adopted Resolution 1874 (2009) modifying and strengthening the sanctions imposed against the DPRK in 2006. Resolution 1874 (2009) was adopted in response to a nuclear test conducted by the DPRK on May 25, 2009, which violated Resolution 1718 (2006), and missile activities that the Security Council deemed to be a clear threat to international peace and security.

The Regulations Implementing the United Nations Resolutions on the Democratic People’s Republic of Korea (DPRK), implement the decisions of the Security Council in Canadian domestic law. Implementation of the travel ban imposed by Resolution 1718 (2006) is ensured in Canada under existing provisions of the Immigration and Refugee Protection Act. New Developments

On July 16, 2009, the 1718 Committee designated five entities; determined additional goods; and designated five individuals to be subject to the measures imposed in paragraph 8 of Resolution 1718. See details in UN Security Council document S/2009/364. Sanctions

The measures imposed against the DPRK include:

a prohibition on the export to any person in the DPRK of:
- all arms and related material, with the exception of small arms and light weapons and their related materials;
- resources contributing to the DPRK’s weapons programme; and
- luxury goods;
a prohibition on importing from any person in the DPRK or any citizen of the DPRK of:
- all arms and related material; and
- resources contributing to the DPRK’s weapons programme;
a prohibition on the provision, to any person in the DPRK, of technical assistance related to the provision, manufacture, maintenance or use of arms and related material or resources contributing to the DPRK’s weapons programme;
a prohibition on financial transactions related to the provision, manufacture, maintenance or use of arms or related material;
an assets freeze against persons designated by the Security Council or by the 1718 Committee; and
a travel ban against persons designated by the 1718 Committee.

For more information Canada Sanctions

China

May 08, 2013 – China sanctions North Korea Foreign Trade Bank

The Bank of China’s decision to shut down the account of North Korea’s Foreign Trade Bank and halt all transactions will deal a heavy blow to a reclusive nation that depends on China for a large portion of its trade.

Although the May 7 decision was made in response to requests from Washington, officials of Japan, the United States and South Korea still have to determine if the move represents a genuine change in Beijing’s policy toward Pyongyang.

Source: Asahi News Item

Hong Kong

January 01, 2010 – United Nations Sanctions (Democratic People’s Republic of Korea) Regulation Hong Kong Sanctions – UN based sanction.

Japan

March 20, 2013 – Japan to impose sanctions on North Korea’s Foreign Trade Bank

The Japanese government is enforcing a ban on North Korea’s Foreign Trade Bank, preventing Japanese financial institutions from doing business with it, government sources revealed on Tuesday. This move was done to cooperate closely with the stand spearheaded by the United States in dealing with the secluded country over its nuclear weapons program.

Source: JDP News Item

New Zealand

Article 41 of the United Nations Charter authorises the Security Council to take enforcement measures not involving the use of force in order to give effect to its decisions. These measures often take the form of sanctions. UN Security Council sanctions are binding on all UN member States, including New Zealand, and are implemented in New Zealand law by regulations made under the United Nations Act 1946. All persons and entities in New Zealand, and in many cases New Zealand citizens and companies overseas, must comply with regulations implementing Security Council sanctions. The range of sanctions imposed by the Security Council has included comprehensive economic and trade sanctions as well as more targeted measures such as arms embargoes, travel bans, and financial restrictions. Financial restrictions, otherwise known as an “assets freeze” are one of the most commonly used sanctions imposed by the United Nations Security Council. New Zealand Sanctions

Singapore

All sanctions are UN based.

August 11, 2009 – The Monetary Authority of Singapore (Sanctions – Democratic People’s Republic of Korea) Regulations 2009 (G.N. No. S 367/2009) – Singapore Sanctions

June 10, 2009 – The Monetary Authority of Singapore (Freezing of Assets of Persons – Democratic People’s Republic of Korea) Regulations 2009 (G.N. No. S258/2009) – Singapore Sanctions

US

OFAC

June 27, 2013 – Non-proliferation Designations

The following individuals have been added to OFAC’s SDN List:

KIM, Chol Sam; DOB 11 Mar 1971; nationality Korea, North; Treasurer, Daedong Credit Bank (individual) [NPWMD].
SON, Mun San; DOB 23 Jan 1951; External Affairs Bureau Chief, General Bureau of Atomic Energy (individual) [NPWMD].

The following entities have been added to OFAC’s SDN List:

DAEDONG CREDIT BANK (a.k.a. DAE-DONG CREDIT BANK; a.k.a. DCB; a.k.a. TAEDONG CREDIT BANK), Suite 401, Potonggang Hotel, Ansan-Dong, Pyongchon District, Pyongyang, Korea, North; Ansan-dong, Botongang Hotel, Pongchon, Pyongyang, Korea, North; SWIFT/BIC DCBK KPPY [NPWMD].
DCB FINANCE LIMITED, Akara Building, 24 de Castro Street, Wickhams Cay I, Road Town, Tortola, Virgin Islands, British; Dalian, China [NPWMD].

OFAC Recent Actions

March 11, 2013 – Designation of DPRK Entities Pursuant to Executive Order 13382

To further impede North Korea’s weapons of mass destruction (WMD) and ballistic missile programs, the Department of State on March 11 designated three individuals directly tied to North Korea’s proliferation activities. These designations are pursuant to Executive Order 13382, which targets proliferators of WMD and their supporters:

North Korea’s nuclear and missile proliferation activities violate UN Security Council Resolutions 1718 (2006), 1874 (2009), 2087 (2013), and 2094 (2013), destabilize the region, and undermine the global nonproliferation regime. The international community has condemned North Korea’s WMD proliferation activity, most recently in the adoption of UN Security Council Resolution 2094 on March 7. Today’s designations of three senior members of the North Korean government follow actions taken March 7 by the U.S. Government against China-based representatives of the Korea Mining Development Corporation (KOMID) and Tanchon Commercial Bank (TCB).

North Korea will continue to face isolation if it refuses to take concrete steps to comply with its international obligations and address the concerns of the international community over its nuclear and ballistic missile programs.

The United States continues to encourage North Korea to choose the path of peace and remains prepared to engage constructively with North Korea if it changes its course. However, North Korea must demonstrate its seriousness of purpose and commitment to authentic and credible negotiations by taking meaningful steps to show it will abide by its denuclearization commitments and respect international law.

Pak To-Chun is the head of U.S.- and European Union-designated Munitions Industry Department, which manages North Korea’s weapons production and arms exports; he succeeded EU-designated Jon Pyong-Ho. Pak is a full member of the Korean Worker Party’s (KWP) Political Bureau, its highest decision-making body, as well the National Defense Commission, which, among other things, oversees several elements of North Korea’s security apparatus.

Chu Kyu-Chang is a KWP Political Bureau (alternate) member and directs the Munitions Industry Department. He formerly headed the U.S.-designated Second Academy of Natural Sciences (SANS) and the Second Economic Committee (SEC). SANS is a national-level organization responsible for research and development of North Korea’s advanced weapons systems, including missiles and probably nuclear weapons. SEC is responsible for overseeing the production of North Korea’s ballistic missiles and directs activities of the United Nations-, European Union-, and U.S.-designated Korea Mining Development Trading Corporation (KOMID).

O Kuk-Ryol is a Vice Chairman of the North Korean National Defense Commission. He previously headed the KWP Operations Department, where he ordered the establishment of a nuclear research and development organization directly under his control.

The Department of the Treasury is today also designating the Foreign Trade Bank of the DPRK and Paek Se Bong pursuant to E.O. 13382 for WMD proliferation-related activity. More details are available here

The following individuals have been added to OFAC’s SDN List:

CHU, Kyu-Chang (a.k.a. CHU, Kyu-Ch’ang; a.k.a. JU, Kyu-Chang); DOB 25 Nov 1928; POB Hamju County, South Hamgyong Province, Democratic People’s Republic of Korea (individual) [NPWMD].
O, Kuk-Ryol (a.k.a. O, Ku’k-ryo’l); DOB 07 Jan 1930; POB Onso’ng County, North Hamgyo’ng Province, Democratic People’s Republic of Korea (individual) [NPWMD].
PAEK, Se-Bong (a.k.a. PAEK, Se Pong); DOB 21 Mar 1938; Chairman, Second Economic Committee (individual) [NPWMD].
PAK, To-Chun (a.k.a. PAK, Do Chun; a.k.a. PAK, To’-Ch’un); DOB 09 Mar 1944; POB Nangim County, Chagang Province, Democratic People’s Republic of Korea (individual) [NPWMD].

The following entity has been added to OFAC’s SDN List:

FOREIGN TRADE BANK OF THE DEMOCRATIC PEOPLE’S REPUBLIC OF KOREA (a.k.a. NORTH KOREA’S FOREIGN TRADE BANK), FTB Building, Jungsong-dong, Central District, Pyongyang, Korea, North; SWIFT/BIC FTBD KP PY [NPWMD].

OFAC Sanctions & US Department of the Treasury Press Release

March 08, 2013 – United States Sanctions Individuals Linked To North Korean Weapons Of Mass Destruction Programs

The United States welcomes the unanimous passage today of United Nations Security Council Resolution (UNSCR) 2094. North Korea’s nuclear and missile proliferation activities violate the UN Security Council sanctions regime comprised of resolutions 1718 (2006), 1874 (2009) and 2087 (2013), destabilize the region, and undermine the global nonproliferation regime. The international community has condemned North Korea’s weapons of mass destruction (WMD) proliferation activity and its continued efforts to advance its nuclear and missile programs, including its announced February 12 nuclear test and its April and December 2012 launches using ballistic missile technology. These provocative acts continue to threaten international peace and security and will only result in North Korea becoming further isolated from the international community.

On Thursday, March 7, 2013 the U.S. Department of the Treasury implemented the asset freeze provisions of UNSCR 2094 (2013) by designating Mun Cho’ng-Ch’o’l, a Tanchon Commercial Bank (TCB) representative who served in Beijing, China; and Yo’n Cho’ng-Nam and Ko Ch’o’l-Chae, both based in Dalian, China, and representatives of Korea Mining Development Corporation (KOMID), pursuant to Executive Order (E.O.) 13382, which targets proliferators of WMD and their supporters. The Second Academy of Natural Sciences and Korea Complex Equipment Import Corporation, listed in UNSCR 2094 today, were previously designated pursuant to E.O. 13382 in August 2010 and October 2005 respectively.

“These individuals are important actors within North Korea’s proliferation network who have been working to gain access to international markets,” said Under Secretary for Terrorism and Financial Intelligence David S. Cohen. “We will continue to work with our partners around the world to expose these operations and hold North Korea accountable for its provocative and destabilizing acts.”

TCB was identified in the annex of E.O. 13382 in June 2005 because it acts as the financial arm of KOMID, Pyongyang’s premier arms dealer and main exporter of goods and equipment related to ballistic missiles and conventional weapons. KOMID was also listed in the annex to E.O. 13382 in June 2005 for its role in North Korea’s proliferation of WMD.

KOMID has offices in multiple countries around the world and facilitates weapons sales for the North Korean government. TCB plays a role in financing KOMID’s sales of ballistic missiles and has also been involved in ballistic missile transactions from KOMID to Iran’s Shahid Hemmat Industrial Group (SHIG), the U.S. and UN-sanctioned Iranian organization responsible for developing liquid-fueled ballistic missiles. In addition to their listings under E.O. 13382, both TCB and KOMID were designated by the UNSCR 1718 Committee in April 2009.

Today’s designations under E.O. 13382 generally result in the prohibition of transactions between these individuals and any U.S. person, and the freezing of any assets they may have under U.S. jurisdiction.

Identifying information:

Name: Mun Cho’ng-Ch’o’l

Nationality: Democratic People’s Republic of Korea (D.P.R.K.)Location: C/O Tanchon Commercial Bank, Saemaeul 1-Dong, Pyongchon District, Pyongyang, North Korea Title: Tanchon Commercial Bank Representative

Name: Yo’n Cho’ng-Nam

Nationality: Democratic People’s Republic of Korea (D.P.R.K.)Location: Dalian, ChinaTitle: Chief Representative, KOMID

Name: Ko Ch’o’l-Chae

Nationality: Democratic People’s Republic of Korea (D.P.R.K.)Location: Dalian, China Title: Deputy Representative, KOMID

US Department of State Press Release

March 07, 2013 – Non-proliferation Designations

The following individuals have been added to OFAC’s SDN List:

KO, Ch’o’l-Chae, Dalian, China; nationality Korea, North; Deputy Representative, KOMID (individual) [NPWMD].
MUN, Cho’ng-Ch’o’l, C/O Tanchon Commercial Bank, Saemaeul 1-Dong, Pyongchon District, Pyongyang, Korea, North; nationality Korea, North; Tanchon Commercial Bank Representative (individual) [NPWMD].
YO’N, Cho’ng-Nam, Dalian, China; nationality Korea, North; Chief Representative, KOMID (individual) [NPWMD].

OFAC Recent Actions

January 24, 2013 – Treasury Sanctions Company And Individuals Linked To North Korean Weapons Of Mass Destruction Program

The U.S. Department of the Treasury today designated two officials from North Korea-based Tanchon Commercial Bank, as well as one entity—Leader (Hong Kong) International Trading Limited—pursuant to Executive Order (E.O.) 13382, which targets proliferators of weapons of mass destruction (WMD) and their supporters.

These designations, along with several designations announced today by the Department of State, are part of the United States’ implementation of the new United Nations Security Council resolution (UNSCR) 2087, which condemned North Korea’s launch of December 12, 2012, using ballistic missile technology, in direct violation of UNSCRs 1718 and 1874. Today’s actions also support the United States’ longstanding objective of impeding North Korea’s ability to fund its nuclear and ballistic missile activities.

“Our actions today target two North Korean entities, Tanchon Commercial Bank and KOMID, that are part of the web of banks, front companies and government agencies that support North Korea’s continued proliferation activities,” said Under Secretary for Terrorism and Financial Intelligence David S. Cohen. “By continuing to expose these entities, and the individuals who assist them, we degrade North Korea’s ability to use the international financial system for its illicit purposes.”

Ra Ky’ong-Su, the Tanchon Commerical Bank (TCB) Representative to Beijing and Kim Kwang-Il, the TCB Deputy Representative to Beijing, were designated today for facilitating activity on behalf of TCB. TCB was designated pursuant to E.O. 13382 in October 2009 because it acts as the financial arm of Korea’s Mining Development Trading Corporation (KOMID), Pyongyang’s premier arms dealer and main exporter of goods and equipment related to ballistic missiles and conventional weapons, which itself was listed in the annex to E.O. 13382 on June 28, 2005 for its role in North Korea’s proliferation of WMD.

KOMID has offices in multiple countries around the world and aims to facilitate weapons sales. TCB plays a role in financing KOMID’s sales of ballistic missiles and has also been involved in ballistic missile transactions from KOMID to Iran’s Shahid Hemmat Industrial Group (SHIG), the U.S. and UN-designated Iranian organization responsible for developing liquid-fueled ballistic missiles. In addition to their designation under E.O. 13382, both TCB and KOMID were designated by the UNSCR 1718 Committee in April 2009.

Leader (Hong Kong) International Trading Limited was designated today for facilitating the shipment of machinery and equipment to customers on behalf of KOMID and directly to KOMID representatives located outside of North Korea.

In addition, Treasury’s list of Specially Designated Nationals and Blocked Persons (SDN List) was updated today to reflect that KOMID operates under the alias Korea Kumryong Trading Corporation, an entity designated by the UN Security Council pursuant to UNSCR 2087.

Today’s actions generally prohibit transactions between the designees and any U.S. person, and freeze any assets designees may have under U.S. jurisdiction.

Identifying information:

Name: Ra Ky’ong-Su, Tanchon Commercial Bank Representative to Beijing

Location: Beijing, People’s Republic of China Nationality: Democratic Republic of North Korea (DPRK)

Name: Kim Kwang-Il

Title: Tanchon Commercial Bank Deputy Representative to Beijing Location: Beijing, People’s Republic of China Nationality: Democratic Republic of North Korea (DPRK)

Name: Leader (Hong Kong) International Trading Limited

AKA: Leader International Trading Limited Location: Room 1610 Nan Fung Tower, 173 Des Voeux Road, Hong Kong

January 24, 2013 – Designation Of DPRK Entities Pursuant To Executive Order 13382 In Response To UN Security Council Resolution 2087

The United States welcomes the UN Security Council’s unanimous adoption on January 22 of UN Security Council resolution (UNSCR) 2087, condemning North Korea’s launch of December 12, 2012, which used ballistic missile technology in violation of UN Security Council resolutions 1718 and 1874. Once again, the international community has sent a clear, united signal that North Korean provocations that undermine international security and the global nonproliferation regime, like the December 2012 launch, will not be tolerated.

To implement our obligations pursuant to UNSCR 2087 and to impede the DPRK’s illicit WMD and ballistic missile programs, the Departments of State and the Treasury on January 24, 2013, designated several entities and individuals directly tied to North Korea’s proliferation activities. The Department of State designated one entity and two individuals pursuant to Executive Order 13382, which targets proliferators of weapons of mass destruction (WMD) and their supporters. These include the Korean Committee for Space Technology (KCST), KCST senior official Paek Chang-Ho, and General Manager of the Sohae Satellite Launching Station Chang Myong-Chin.

Information on the Department of the Treasury’s concurrent actions may be viewed here

The Korean Committee for Space Technology orchestrated the launches of the Taepo-Dong 2 via the satellite control center and Sohae launch area. The technology used to launch a satellite is virtually identical to and interchangeable with that used in an intercontinental ballistic missile. KCST has contributed directly to the DPRK’s long-range ballistic missile development efforts.
Paek Chang-Ho is a senior official and head of the satellite control center of KCST.
Chang Myong-Chin is the head of the launch center at which the launches took place.

These actions aim to disrupt North Korea’s continued WMD proliferation and procurement efforts that are in flagrant violation of UN Security Council resolutions. North Korea will continue to face isolation if it refuses to take concrete steps to address the concerns of the international community over its nuclear and missile programs.

January 24, 2013 – Anti-Terrorism Designations; Democratic Republic of the Congo Designations; Non-proliferation Designations; Burma Designations Removal; Non-proliferation Designations Update

The following individuals have been added to OFAC’s SDN List:

AL-ZAHRANI, Ahmed Abdullah Saleh al-Khazmari (a.k.a. AL-AZADI, Abu Maryam; a.k.a. AL-KHOZMRI, Ahmed Abdullah Saleh al-Zahrani; a.k.a. AL-SAUDI, Abu Maryam; a.k.a. AL-ZAHRANI, Abu Maryam; a.k.a. AL-ZAHRANI, Ahmad Abdullah Salih; a.k.a. AL-ZAHRANI, Ahmed Abdullah S; a.k.a. BIN AL-ZAHRANI, Ahmed bin Abdullah Saleh), Iran; Pakistan; DOB 15 Sep 1978; POB Dammam, Saudi Arabia; Passport E126785 (Saudi Arabia) issued 27 May 2002 expires 03 Apr 2007; Interpol: Red Notice. File No. 2009/3599. March 24, 2009. Orange Notice. File No. 2009/52/OS/CCC. February 10, 2009. (individual) [SDGT].
BADEGE, Eric; DOB 1971; Lieutenant Colonel; Alternate Title: Colonel (individual) [DRCONGO].
CHANG, Myong-Chin (a.k.a. JANG, Myong-Jin); DOB 1966; alt. DOB 1965 (individual) [NPWMD].
KIM, Kwang-Il, Beijing, China; nationality Korea, North (individual) [NPWMD].
PAEK, Chang-Ho (a.k.a. PAEK, Ch’ang-Ho; a.k.a. PAK, Chang-Ho); DOB 18 Jun 1964; POB Kaesong, DPRK; Passport 381420754 issued 07 Dec 2011 expires 07 Dec 2016 (individual) [NPWMD].
RA, Kyong-Su, Beijing, China (individual) [NPWMD].
RUNIGA, Jean-Marie Rugerero (a.k.a. RUNIGA, Jean-Marie Lugerero); DOB 17 Sep 1966; POB Democratic Republic of the Congo (individual) [DRCONGO].

The following entities have been added to OFAC’s SDN List:

KOREAN COMMITTEE FOR SPACE TECHNOLOGY (a.k.a. COMMITTEE FOR SPACE TECHNOLOGY; a.k.a. DEPARTMENT OF SPACE TECHNOLOGY OF NORTH KOREA; a.k.a. DPRK COMMITTEE FOR SPACE TECHNOLOGY; a.k.a. KCST), Pyongyang, Korea, North [NPWMD].
LEADER (HONG KONG) INTERNATIONAL TRADING LIMITED (a.k.a. LEADER INTERNATIONAL TRADING LIMITED), Room 1610 Nan Fung Tower, 173 Des Voeux Road, Hong Kong [NPWMD].

The following deletions have been made to OFAC’s SDN List:

THEIN, U Kyaw, 503 Sembawang Road, #02-29 757707, Singapore; c/o Air Bagan Holdings Pte. Ltd., undetermined; c/o Htoo Wood Products Pte. Ltd., undetermined; c/o Pavo Aircraft Leasing Pte. Ltd., undetermined; c/o Pavo Trading Pte. Ltd., undetermined; DOB 25 Oct 1947; nationality Burma; citizen Burma; National ID No. S2733659J (Singapore) issued 07 Jul 2005; permanent resident Singapore (individual) [BURMA].

The following changes have been made to OFAC’s SDN List:

KOREA MINING DEVELOPMENT TRADING CORPORATION (a.k.a. CHANGGWANG SINYONG CORPORATION; a.k.a. EXTERNAL TECHNOLOGY GENERAL CORPORATION; a.k.a. NORTH KOREAN MINING DEVELOPMENT TRADING CORPORATION; a.k.a. “KOMID”), Central District, Pyongyang, Korea, North [NPWMD].

-to- KOREA MINING DEVELOPMENT TRADING CORPORATION (a.k.a. CHANGGWANG SINYONG CORPORATION; a.k.a. EXTERNAL TECHNOLOGY GENERAL CORPORATION; a.k.a. KOREA KUMRYONG TRADING COMPANY; a.k.a. NORTH KOREAN MINING DEVELOPMENT TRADING CORPORATION; a.k.a. “KOMID”), Central District, Pyongyang, Korea, North [NPWMD].

June 26, 2011 – Obama Renews Sanctions Targeting North Korea (Friday, June 24, 2011) – U.S. President Obama has renewed for an additional year sanctions targeting North Korea. Former President Bush first ordered the sanctions in 2008 under the National Emergencies Act. The Obama White House has maintained those penalties and even increased them, adding a new prohibition in April on the import of all North Korean products (see below). “The existence and the risk of proliferation of weapon-usable fissile material on the Korean Peninsula, and the actions and policies of the government of North Korea that destabilize the Korean Peninsula and imperil U.S. armed forces, allies, and trading partners in the region, continue to constitute an unusual and extraordinary threat to the national security, foreign policy and economy of the United States,” Obama said in a notice to Congress explaining his reasons for renewing the sanctions.

May 23, 2011 – Iran, North Korea and Syria nonproliferation Act (INKSNA) The United States imposed sanctions on two Belarusian entities, three Chinese entities and one individual, five Iranian entities and one individual, one North Korean entity, two Syrian entities and one Venezuelan entity.

Sanctioned entities are:

Belarusian entities – Belarusian Optical Mechanical Association and BelTechExport;
Chinese entities and individuals – Mr. Karl Lee, Dalian Sunny Industries, Dalian Zhongbang Chemical Industries Company, and Xian Junyun Electronic
Iranian entities and individuals – Milad Jafari, Defense Industries Organization, Islamic Republic of Iran Shipping Lines (IRISL), Islamic Revolutionary Guard Corps Qods Force, SAD Import-Export Company, and Shahid Bakeri Industries Group (SBIG)
North Korean entity – Tangun Trading
Syrian entities – Industrial Establishment of Defense and Scientific Studies and Research Center (SSRC)
Venezuelan entity – Venezuela Military Industries Company (CAVIM)

Sanctions were imposed on these entities as provided in the INKSNA because there was credible information indicating that they had transferred to or acquired from Iran, North Korea, or Syria equipment and technology listed on multilateral export control lists (Australia Group, Chemical Weapons Convention, Missile Technology Control Regime, Nuclear Suppliers Group, Wassenaar Arrangement) or otherwise having the potential to make a material contribution to WMD or cruise or ballistic missile systems.

The sanctions apply to the specific entities above and will be in effect for two years. The sanctions do not apply to these entities’ respective countries or governments.

The sanctions consist of the following:

No department or agency of the U.S. Government may procure, or enter into any contract for the procurement of, any goods, services or technology from these entities;
No department or agency of the U.S. Government may provide any assistance to these entities and they shall not be eligible to participate in any assistance program of the U.S. Government;
U.S. Government sales of any item on the U.S. munitions list (USML) to any of these entities are prohibited, and sales of any defense articles, defense services or design and construction services controlled under the Arms Export Control Act are terminated; and
New licenses will be denied and any existing licenses suspended, for transfer to these entities of items controlled under the Export Administration Act of 1979 or Export Administration Regulations. INKSNA Statement

On April 18, 2011, the President issued Executive Order (“E.O.”) 13570 to take additional steps to address the national emergency declared in E.O. 13466 and expanded in E.O. 13551, that will ensure implementation of the import restrictions contained in United Nations Security Council Resolutions 1718 and 1874 and complement the import restrictions provided for in the Arms Export Control Act (22 U.S.C. 2751 et seq.).

WASHINGTON – The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced on April 19, 2011 the designation of North Korean financial institution Bank of East Land (aka Dongbang Bank) for its facilitation of weapons-related transactions for, and other support to, designated arms manufacturer and exporter Green Pine Associated Corporation (Green Pine).

April 19, 2011 designation was taken pursuant to Executive Order (E.O.) 13551, signed by President Obama in August 2010. E.O. 13551 targets North Korea’s importation and exportation of arms, importation of luxury goods, and other illicit activities, including money laundering, the counterfeiting of goods and currency, bulk cash smuggling, and narcotics trafficking. OFAC Press Center

Licenses required for import and export activities; no owning, leasing, operating, or insuring any vessel flagged by North Korea.

Several banks have been designated and banned by OFAC (and the EU), including there worldwide branches

The Office of Foreign Assets Control of the U.S. Department of the Treasury (‘‘OFAC’’) is amending the Terrorism List Governments Sanctions Regulations so that the schedule to which a prohibition section refers lists those countries that are currently designated as supporting international terrorism, instead of the countries that were designated as of the effective date of these regulations. This amendment also removes Iraq, Libya, and North Korea from the schedule, because these countries are no longer designated as state sponsors of terrorism.

Effective Date: May 18, 2009

OFAC Sanction

FinCen

July 01, 2013 – Update on the Continuing Illicit Finance Threat Emanating from North Korea

The Financial Crimes Enforcement Network (“FinCEN”) issued an Advisory to supplement information previously provided on the serious threat of money laundering, terrorism finance, and proliferation finance emanating from the Democratic People’s Republic of Korea (“North Korea” or “DPRK”), and to provide guidance to financial institutions regarding United Nations Security Council Resolution (“UNSCR”) 2087, adopted on January 22, 2013, and UNSCR 2094, adopted on March 7, 2013.

FinCen Guidance

NORTH KOREAN BANKS

Below a not limited list of North Korean banks as taken from public and commercially available information, provided for ease of reference only.

Amroggang Development Bank
Bank of East Land
Central Bank of the Democratic People’s Republic of Korea
Credit Bank of Korea
Dae-Dong Credit Bank
First Credit Bank
Foreign Trade Bank of the Democratic People’s Republic of Korea
Hana Banking Corporation Ltd.
The International Industrial Development Bank
Korea Joint Bank (KBJ)
Korea Daesong Bank
Korea Kwangson Banking Corp
Korea United Development Bank
Koryo Commercial Bank Ltd.
Koryo Credit Development Bank
Kumgang Bank (added December 18, 2009)
North East Asia Bank
Tanchon Commercial Bank

February 2010 – FIN-2010-A002 FinCen Sanction

December 2009 – FIN-2009-A002 FinCen Sanction

ITAR

ITAR Based sanctions, see chapter on ITAR for more detailed information

August 8, 2011 – 76 FR 47990 – Amendment to ITAR §126.1. Removed from “Terrorism” section; denial policy continues.
December 6, 1984 – 49 FR 47682
December 18, 2007 – 72 FR 71575

FATF Warning List

February 22, 2013 – Since October 2012, DPRK has reached out to the APG regarding joining that body and has engaged directly with the FATF. The FATF urges the DPRK to enhance its engagement with these bodies to agree with the FATF on an action plan to address its AML/CFT deficiencies.

The FATF remains concerned by the DPRK’s failure to address the significant deficiencies in its anti-money laundering and combating the financing of terrorism (AML/CFT) regime and the serious threat this poses to the integrity of the international financial system. The FATF urges the DPRK to immediately and meaningfully address its AML/CFT deficiencies.

The FATF reaffirms its 25 February 2011 call on its members and urges all jurisdictions to advise their financial institutions to give special attention to business relationships and transactions with the DPRK, including DPRK companies and financial institutions. In addition to enhanced scrutiny, the FATF further calls on its members and urges all jurisdictions to apply effective counter-measures to protect their financial sectors from money laundering and financing of terrorism (ML/FT) risks emanating from the DPRK. Jurisdictions should also protect against correspondent relationships being used to bypass or evade counter-measures and risk mitigation practices, and take into account ML/FT risks when considering requests by DPRK financial institutions to open branches and subsidiaries in their jurisdiction.

FATF Public Statement

October 19, 2012 – The FATF remains concerned by the DPRK’s failure to address the significant deficiencies in its anti-money laundering and combating the financing of terrorism (AML/CFT) regime and the serious threat this poses to the integrity of the international financial system. The FATF urges the DPRK to immediately and meaningfully address its AML/CFT deficiencies.

The FATF remains prepared to engage directly in assisting the DPRK to address its AML/CFT deficiencies.

FATF Public Statement – October 19, 2012

June 22, 2012 – The FATF remains concerned by the DPRK’s failure to address the significant deficiencies in its anti-money laundering and combating the financing of terrorism (AML/CFT) regime and the serious threat this poses to the integrity of the international financial system. The FATF urges the DPRK to immediately and meaningfully address its AML/CFT deficiencies.

The FATF acknowledges the latest outreach from DPRK to FATF and remains prepared to engage directly in assisting the DPRK to address its AML/CFT deficiencies.

FATF Public Statement – June 22, 2012

24 June 2011 – The Financial Action Task Force (FATF) is the global standard setting body for anti-money laundering and combating the financing of terrorism (AML/CFT). In order to protect the international financial system from ML/FT risks and to encourage greater compliance with the AML/CFT standards, the FATF identified jurisdictions that have strategic deficiencies and works with them to address those deficiencies that pose a risk to the international financial system.

As part of its ongoing review of compliance with the AML/CFT standards, the FATF has identified that this jurisdictions (North Korea) has major AML/CFT deficiencies for which it has NOT developed an action plan with the FATF.

FATF members and other jurisdictions should apply counter-measures to protect the international financial system from the on-going and substantial money laundering and terrorist financing (ML/TF) risks emanating from the jurisdictions Iran and North Korea.

The FATF and the FSRBs will continue to work with this jurisdiction and to report on the progress made in addressing the identified deficiencies. The FATF calls on the jurisdiction to complete the implementation of action plans expeditiously and within the proposed time frames. All member states should treat this jurisdiction (North Korea) with vigilance and requested to apply counter measures FATF Public Statement – June 24, 2011

US FinCen – AML/CFT Deficiencies Warning List

July 13, 2011 – FinCen adopted the Financial Action Task Force Public Statement on Anti-Money Laundering and Counter-Terrorist Financing Risks and FinCen provided guidance on the subject. More detailed information FIN-2011-A011 and FIN-2011-A012

From Sanctions Wiki

Contents

UN

EU

NL

UK

Swiss

Australia

Canada

China

Hong Kong

Japan

New Zealand

Singapore

US

OFAC

FinCen

ITAR

FATF Warning List

US FinCen – AML/CFT Deficiencies Warning List