SWIFT bans N. Korean lenders

New Straits Times - - Business / World -

Bel­gium-based SWIFT said yes­ter­day it had stopped pro­vid­ing fi­nan­cial ser­vices to all North Korean banks un­der United Na­tion sanc­tions, as in­ter­na­tional ten­sions rise over Py­ongyang’s in­creas­ingly ag­gres­sive mil­i­tary be­hav­iour. The fi­nan­cial mes­sag­ing sys­tem said it stopped pro­vid­ing ser­vices to the North Korean banks af­ter Bel­gian au­thor­i­ties with­drew au­tho­ri­sa­tion that had en­abled SWIFT to serve the banks. The with­drawal of the au­tho­ri­sa­tion came in re­sponse to the “cur­rent in­ter­na­tional” sit­u­a­tion re­lat­ing to North Korea and on­go­ing dis­cus­sions in the UN Se­cu­rity Coun­cil, said SWIFT.

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