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European Commission

The European Commission (EC) has decided that the European Union (EU) system of Directives isn't working when it comes to money laundering and terrorist financing. They are right. What's taken them so long to work it out? The question is this: have the identified the correct matters and will they get it right this time?

FCRO Subsection: 

The UK Treasury has issued a notice bringing into effect additional requirements. Under the notice issued 6 May 2016, by 31 May credit and financial institutions must terminate all financial dealings with the government of North Korea, with the ruling Party - and essentially freeze the whole of North Korea out of the UK banking system by, amongst other things, closing branches and accounts.

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