BROWNBACK CALLS FOR ADMINISTRATION TO TARGET NORTH KOREAN REGIME FOR MONEY LAUNDERING
WASHINGTON - U.S. Senator Sam Brownback today called on the Obama Administration to designate North Korea as a jurisdiction of primary money laundering concern, and to implement the most stringent special measures under the PATRIOT Act. "Money laundering, counterfeiting, narcotics trafficking, and massive insurance fraud are all financial staples of the oppressive North Korean regime," said Brownback. "We must do everything in our power to shut down North Korea's illicit sources of revenue and disrupt its cash flow. North Korea, a state sponsor of terrorism, is preparing for yet another round of nuclear and ballistic missile tests; the United States must put North Korea on notice that we will not tolerate such acts." Under the USA PATRIOT Act, the Treasury Department has the authority to list as primary concerns any jurisdiction which systematically engages in money laundering. The other jurisdictions designated under this law are Burma and Nauru.
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