RUSI reports North Korea used Designated Non-Financial Businesses and Professions to evade financial sanctions

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The Royal United Services Institute (RUSI) has released a white paper which highlights how North Korea has evaded targeted financial sanctions through designated non-financial businesses and profession (DNFBPs), and offers recommendations for international organisations and individual governments to adapt regulation to better capture these activities. Financial Institutions should take the time to read this paper and consider how sanctions frameworks can be improved to identify sanctions evasion through the use of DNFBPs.

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