SWIFT Messaging System Cuts Off Remaining North Korean Banks
(THIS ARTICLE IS COURTESY OF REUTERS NEWS AGENCY)
SWIFT messaging system cuts off remaining North Korean banks
SWIFT, the inter-bank messaging network which is the backbone of international finance, said it planned to cut off the remaining North Korean banks still connected to its system, as concerns about the country’s nuclear program and missile tests grow.
SWIFT said the four remaining banks on the network would be disconnected for failing to meet its operating criteria.
The bank-owned co-operative declined to specify what the banks‘ shortcomings were or if it had received representations from any governments.
Experts said the decision to cut off banks which were not subject to European Union sanctions was unusual and a possible sign of…
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