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Senate Wants Sanctions For Banks Dealing With N. Korea

Law360, New York (November 7, 2017, 8:50 PM EST) -- The Senate Banking Committee on Tuesday voted unanimously to advance bipartisan legislation that would impose sanctions on foreign-based financial institutions that do business with North Korea and that would also involve the financial sector in anti-money laundering programs related to human-trafficking operations.

The bill would place sanctions on non-U.S. banks and firms that violate orders imposed by Congress, the president or by the United Nations that bar the providing of loans or other financial services to entities engaged in trade with North Korea.

"This bill is...
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