U.S. Ramps Up Sanctions Activities Against North Korea in 2018

WorldECR

September 2018

In this article, Timothy O'Toole and Claire Palmer discuss the Office of Foreign Assets Control's (OFAC's) recent uptick in enforcing sanctions against North Korea. Since November 2017, sanctions have been increasingly enforced and will most likely continue that way, especially within the oil and gas, financial, shipping, and the textile and garment industries. "Companies working in these sectors, particularly in the East Asia region, should be on high alert for potential red flags, and should carefully review recent FinCen and OFAC guidance," O'Toole and Palmer wrote.  "Those advisories provide a host of compliance measures companies can adopt to ensure that they do not wind up in the next North Korean enforcement update."