Sanction Evasion Tactics: Risks for Businesses with Supply Chain Links to North Korea

On 23 July 2018 the U.S. Department of State (with the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), the U.S. Department of Homeland Security’s (DHS) Customs and Border Protection (CBP) and Immigration and Customs Enforcement (ICE)) issued an Actions Advisory to highlight evasive techniques used by North Korea to circumvent sanction compliance with the U.S. and/or UN sanction authorities. These evasion techniques may expose businesses (including manufacturers, buyers, and service providers) to sanction compliance risks and therefore businesses should implement effective due diligence policies, procedures and internal controls to ensure compliance.

To read the complete Advisory click here.