FATF Labels North Korea High-Risk Jurisdiction

Seoul's Financial Intelligence Unit said Wednesday that the Financial Action Task Force (FATF) designated North Korea as a "high-risk jurisdiction" for money laundering and terrorism financing for the 16th consecutive year. The FATF, which groups North Korea with Iran and Myanmar, cited Pyongyang's failure to address anti-money-laundering deficiencies and illicit activities linked to weapons-of-mass-destruction financing.