March 8, 2017
Three North Korean banks have been barred from Swift, the international transaction system, after the UN found they were using its services in defiance of sanctions.
Swift, based in Brussels, said on Wednesday that Belgian regulators would not allow it to provide services to banks that are subject to UN sanctions.
“As a result, Swift suspended access of UN-designated North Korean entities to the Swift financial messaging service,” it said in a statement.
More than 11,000 banks, securities houses and other organisations use Swift to communicate and
source http://www.omnipopmag.com/2017/03/08/north-korean-banks-barred-from-swift-system/
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