MoneyLaundering.com quoted Nick Turner in a February 10 article titled "Treasury Takes Aim at North Korea's Offshore Accounts." The article discusses how the Treasury Department's Office of Foreign Assets Control (OFAC) has ordered US banks to block certain payments under Executive Order 13810, which enables OFAC to stop transfers to, from or through foreign accounts controlled by North Korean parties, or that otherwise touch funds of any amount for Pyongyang.
Turner, a sanctions and anti-money laundering lawyer in Steptoe's Hong Kong office, says that OFAC appears to have begun using a blocking provision set forth in section 3 of the executive order shortly after the White House announced the measure in September 2017. "If a non-US bank account receives a wire transfer from a North Korean person, OFAC could use sec. 3 [of the executive order] to freeze any future transfers to or from that account when they pass through a US intermediary bank. The account itself becomes tainted."
The full article can be read at MoneyLaundering.com.