Treasury Department Cracks Down On North Korean Bank

Law360, New York (April 20, 2011, 1:25 PM EDT) -- The Obama administration took additional steps Tuesday to enforce sanctions against North Korea, including cracking down on a North Korean bank that helped the country's illicit arms trafficking.

The U.S. Department of the Treasury blacklisted the Bank of East Land, also known as Dongbang Bank, because it helped arms manufacturer and exporter Green Pine Associated Corp. to transfer funds involved in weapons-related transactions in order to avoid U.S. sanctions, including transactions with Treasury-blacklisted Iranian banks in 2007 and 2008.

“Bank of East Land is a major...
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