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OFAC Blacklists North Korean Bank
printThe U.S. Treasury Department's sanctions arm blacklisted a North Korean bank Thursday for its alleged ties to a branch of the communist nation's government. The department's Office of Foreign Assets Control (OFAC) said that Korea Daesong Bank and a separate company, Korea Daesong General Trading Corporation, were controlled by Office 39, a "secretive branch" of the North Korean government. The agency blacklisted Office 39-alternatively known as Room 39 and Bureau 39-in August. In a statement, the Treasury Under Secretary for Terrorism and Financial Intelligence, Stuart Levey, called the two companies "key components" in the sanctioned branch's financial network. The designation...
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