BSP warns banks on dealing with NKoreans on UNSC list

Banks and other financial institutions must exercise vigilance when transacting with North Korean individuals and entities sanctioned by the United Nations Security Council (UNSC), the Bangko Sentral ng Pilipinas (BSP) said.

Incoming BSP Governor Nestor Espenilla Jr. said the central bank, in coordination with the Department of Foreign Affairs, fully supports the UNSC Resolution which imposes sanction on the Democratic People’s Republic of Korea (DPRK).