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Country? what we could be doing is going after the banks that are handling north korea s money. in 2017, the trump administration disconnected one bank from the international system by designating it a money laundering concern. we know chinese banks are continuing to launder north korea s money and we could designate them and cut them off from the global financial system. i believe we need to do that because we ve warned the chinese year in and year out and they ignore the warnings. by the way, these banks are laundering not just narc north korea s money but chinese gangs have become the world s dominant money launderers using the chinese state banks. sandra: gordon chang on that breaking news. thank you for joining us. good to see you. inflation is a huge issue. ....
To embed, copy and paste the code into your website or blog: Regarding assets belonging to Senior Foreign Officials, Section 6313 of the AML Act of 2020 prohibits the concealment of the source of those assets in monetary transactions or involving Institutions of primary Money Laundering concern as two new criminal offenses. Both offenses are punishable by a fine of up to $1,000,000 or 10 years of imprisonment, or both.
The Criminal Offenses Senior Foreign Political Figures: The Act specifically prohibits a person from knowingly concealing, falsifying or misrepresenting, or attempting to conceal, falsify or misrepresent, from or to a financial institution, a material fact concerning the ownership or control of assets involved in a monetary transaction if the person or entity who owns or controls the assets is a senior foreign political figure, or any immediate family member or close associate of a senior foreign political figure and the aggregate value of t ....
The real is struggling, their currency. they were just today reconstituted on the black list meaning they re a money laundering concern to the world. so that doesn t look good in broad scope to that regime. you can anticipate that they would then begin to push back directly. they re not going to attack an american base, they re going to use their proxies and asymmetric powers, probably resort to cyber tools as we ve seen them in the past. so we have to anticipate that. what the administration has tried to do is deter that. they have sent messages, aligned forces, deployed forces and now president trump threatened the use of force directly. the question is can you deter further escalation and can you use the things that the iranians are doing to actually isolate them further and force them to come to grips that they have to talk their way out of this as opposed to exploding things on an oil vessel or shooting down ....
Particularly the banks, 12 chinese banks to the white house saying that they thought there was evidence there to identify them as money laundering concern or impose fines and there was no action yet. leland: the north koreans and the chinese both know about the banks, conceivably the russians know about them as well, what do they make about the united states not applying maximum pressure? it s a puzzle, really, you leland: that s weakness, doesn t it? right, these are entities that are violating u.s. laws which are designed to protect the u.s. financial system. leland: real quickly, we are hearing now about the stop and search operation of north korean ships on the high seas that are potentially violating sanctions, you start talking about that, if they don t stop to be search they run the block aid or you have a war on your hands. right, u.s. officials have said that they ve had great compliance with other countries who, you know, will accept an inspection but we don t have ....
Because trump also announced that tomorrow, the treasury is going to start issuing sanctions. and he said the first one was going to be a large sanction. you know, because it s treasury, it must be a financial sanction of some sort. north korean banks have already been sanctioned a all out. so probably what they re going to do, and this is just a guess, but i would suspect they re going too far after a chinese bank. they designated bank of dandong as a primary money laundering concern. that was june 29th. that was a signal to beijing that the administration was willing to apply pressure. maybe they re going after a larger chinese financial institution now. constitution now. and as these things work, this is something president trump said to xi jinping and they re expecting, i m guessing? well, we don t really know or i don t know what trump said to xi jinping. trump did tweet out afterwards ....