2018-005-Worldwide-North Korea Sanctions Evasion
- Issue: The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), with the U.S. Department of State and the U.S. Coast Guard, issued an advisory on February 23, 2018, to alert persons globally to deceptive shipping practices used by North Korea to evade sanctions. These practices may create significant sanctions risk for parties involved in the shipping industry, including insurers, flag registries, shipping companies, and financial institutions.
- Guidance: The North Korea Sanctions Advisory is available at: https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Documents/dprk_vessel_advisory_02232018.pdf.
- Contact Information: Contacts are provided within the North Korea Sanctions Advisory.
- Cancellation: This advisory will automatically expire on August 23, 2018.