New Risks For US Cos. Inadvertently Supporting North Korea

By Harry Clark, Ellen Murphy, Matthew Moses and Elizabeth Morgan (July 24, 2018, 4:01 PM EDT) -- Many businesses no doubt think that they face minimal exposure under U.S. sanctions against North Korea. But many should reassess this view and take steps to reduce the risk of unwittingly and unlawfully relying on North Korean supplies or labor — particularly if they do business in high-risk jurisdictions such as China, Russia or African countries. An advisory issued on July 23, 2018, by the U.S. Department of State, with the U.S. Department of Treasury's Office of Foreign Assets Control and other federal agencies, highlights evasion tactics used by North Korea that could expose companies and financial institutions to very real compliance sanctions risks.[1]...

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