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SECO amends 2 North Korea sanctions designations

Today, Swiss authorities amended the following 2 entities designated under the North Korean sanctions program:

SSID: 150-33903 Name: Daedong Credit Bank
Good quality a.k.a.: a) DCB b) Taedong Credit Bank Address: a) Suite 401, Potonggang Hotel, Ansan-Dong, Pyongyang, Pyongchon District, DPR Korea b) Ansan-dong, Botonggang Hotel, Pyongyang, Pongchon, DPR Korea
Justification: Daedong Credit Bank has provided financial services to the Korea Mining Development Trading Corporation (KOMID) and Tanchon Commercial Bank. Since at least 2007, DCB has facilitated hundreds of financial transactions worth millions of dollars on behalf of KOMID and Tanchon Commercial Bank. In some cases, DCB has knowingly facilitated transactions by using deceptive financial practices. Other information: SWIFT: DCBK KKPYDCBKKPPY Modifications: Listed on 4 Mar 2016, amended on 11 May 2020
SSID: 150-38801 Name: Yuk Tung Energy Pte Ltd
Address: 17-22, UOB Plaza 2,80 Raffles Place, #17-22 UOB Plaza, Singapore, 048624, Singapore
Justification: Ship manager and commercial manager of the YUK TUNG, which conducted ship-to-ship transfer of refined petroleum product. Modifications: Listed on 30 Mar 2018, amended on 11 May 2020

Links:

FINMA Notice

Data files of updates – PDF, XML

Categories: North Korea (DPRK) Sanctions Sanctions Lists SECO Updates

eric9to5

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