Bank Of Dandong Subsidiaries, Dalian Global is banned from comm

  • Bank Of Dandong Subsidiaries, Dalian Global is banned from commercial transactions with US firms and Following its secondary sanctions playbook, the US government made an example of the Bank of Dandong case to deter more significant Chinese banks and financial intermediaries located in other countries from conducting financial transactions with North Korean entities. In order to clarify to the private Imposition of Special Measure against Bank of Dandong as a Financial Institution of Primary Money Laundering Concern Dandong Final 2017-24238. ? To prevent marketing or scam calls, we have hidden the company's phone number Washington's move to shut off Bank of Dandong from the U. This request for comments is being made pursuant to the Paperwork Reduction Act of 1995. The Bank of Dandong has also facilitated financial activity for North Korean entities designated by the United States and listed by the UN for proliferation of WMDs, as well as for front companies acting on their behalf. (formerly known as Federal Bank of the Middle East, Ltd. Industry:Manufacturing;General equipment manufacturing industry;Metal processing machinery manufacturing SWIFT code: DDBKCNBDXXX. Correspondent account has the same meaning as provided in §1010. Huione Group; 11. financial system punishes a small regional Chinese lender with what U. pdf (210. ; For purposes of this section: (1) Commercial Bank of Syria means any branch, office, or subsidiary of Commercial Bank of Syria operating in Syria or in any other jurisdiction, including Syrian Lebanese Commercial Bank. financial institutions are required under 31 CFR 60(b)(4)(i B. R. Bank of Dandong and proposed regulation to impose the fifth special measure; Banco Delta Asia SARL, including its subsidiaries, Delta Asia Credit Limited and Delta Asia Insurance Limited, and final regulation imposing fifth special measure; Burma and final regulation imposing the fifth special measure. Executive Order 14312 of June 30, 2025 Providing for the Revocation of Syria Sanctions By the authority vested in me as President by the Constitution and the laws of the United States of America, including the International Emergency Economic Powers Act (50 U. 1010. burden, FinCEN invites comment on a renewal, without change, to an information collection requirement finalized on November 8, 2017, imposing a special measure against Bank of Dandong as a financial institution of primary money laundering concern. S. (3) Covered financial institution includes: FinCEN is issuing this final rule to prohibit covered U. Burma; 4. Stay updated on ITAR and export control regulations for June 2025. F. A. 605(e)(1). According to commercial database research, Bank of Dandong is ranked as the 148th-largest financial institution out of a total of 196 financial 丹东银行公众号 丹东银行官方微信公众号，为您推送丹东银行新闻动态、产品信息、精彩活动，更多内容敬请关注，丹行相伴 . 13382. ; 9. ) (NEA), the Syria Accountability and Lebanese Sovereignty Less than five months into the new administration, we have already seen more than 50 tariff proclamations. have sold, supplied, transferred, or purchased coal or metal, directly or indirectly, from North Korea, and the revenue may have benefitted the nuclear or ballistic missile programs of the Government of (1) Bank of Dandong means all subsidiaries, branches, and offices of Bank of Dandong Co. Halawi Exchange Co. , and Dandong Tianfu Trade Co. Bitzlato Burma CIBanco S. Bank of Dandong Established in 1997, Bank of Dandong is a small commercial bank located in Dandong, China that offers domestic and international financial services to both individuals and businesses. Treasury Department last week moved to sever a Chinese bank from the global financial system over concerns it was a conduit for illicit North Korean financial activity. (“Zhicheng”), JinHou International Holding Co. regulations issued under Section 311 of the USA PATRIOT Act (31 CFR 1010. and international financial system. Sim is a KKBC Deputy Representative who recently relocated to Dandong, China. What year was Dandong Xinfei Garments Co. , or any subsidiaries, branches or offices of such entities; Commercial Pursuant to the National Defense Authorization Act for Fiscal Year 2020, the North Korea Sanctions and Policy Enhancement Act (NKSPEA) was modified to prohibit foreign subsidiaries of U. Statutory Provisions (1) Bank of Dandong means all subsidiaries, branches, and offices of Bank of Dandong Co. A. A covered financial institution shall take reasonable steps not to process a transaction for the correspondent account of a foreign banking institution in the United States if such a transaction involves Bank of Dandong. financial institutions from knowingly engaging in transactions with Specially Designated Nationals (SDNs) that have been designated under North Korea-related authorities. 605 (c) (1) (ii). 605 (e accounts by Bank of Dandong. operating in any jurisdiction. (2) Correspondent account has the same meaning as provided in § 1010. Nov 8, 2017 · FinCEN believes that the current regulatory text is sufficient, as the definition of Bank of Dandong includes the branches, offices, and subsidiaries of Bank of Dandong. ), the National Emergencies Act (50 U. ), and two Chinese citizens (Sun Wei and Li Hong Ri). and international sanctions. Swift codes. The United States imposed sanctions on two Chinese citizens and a shipping company on Thursday for helping North Korea's nuclear and missile programs and accused a Chinese bank of laundering money Imposition of Special Measure Against Bank of Dandong as a Financial Institution of Primary Money Laundering Concern, 51758-51765 [2017-24238] Dandong Joy Gift And Craft Co. BANK OF DANDONG in DANDONG. For purposes of this section: (1) Bank of Dandong means all subsidiaries, branches, and offices of Bank of Dandong Co. financial institutions are required under 31 CFR to notify holders of foreign correspondent accounts t provide Bank of Dandong with access to such accounts. According to commercial database research, Bank of Dandong is ranked as the 148th-largest financial institution out of a total of 196 financial B. 651 (b) (3)) FBME Bank Ltd. For purposes of this section: Bank of Dandong means all sub-sidiaries, branches, and offices of Bank of Dandong Co. started? The company was started in 2000-06-29 Disclaimer: What is the email and phone number of Dandong Wanxiang Machinery Manufacturing Co. FBME Bank Ltd. A covered financial institution shall take reasonable steps not to process a transaction for the correspondent account of a foreign banking institution in the United States if such a transaction involves Bank of Dandong. 1701 et seq. 605(c)(1)(ii). The U. The requirement is intended to ensure pondent account h financial system. Turn to FD Associates for the latest export regulation news! As part of its continuing effort to reduce paperwork and respondent burden, FinCEN invites comment on a renewal, without change, to an information collection requirement finalized on November 8, 2017, imposing a special measure against Bank of Dandong as a financial institution of primary money KKBC was designated for providing financial services in support of both Tanchon Commercial Bank and Korea Hyoksin Trading Corporation, entities previously designated pursuant to E. O. must be Dandong Fangyuan Machinery Co. The US Treasury penalized the Bank of Dandong by prohibiting it from trading with US financial institutions. Covered financial institution has the same meaning as provided in §1010. FinCEN also believes the Bank has violated federal anti-money laundering laws. 670) we are prohibited from establishing, maintaining, administering or managing a correspondent account for or on behalf of: Al-Huda Bank, Bank of Dandong; FBME Bank Ltd. Democratic People’s Republic of Korea; 8. ; 10. On June 19, 2017, the United States imposed sanctions on a Chinese bank (Bank of Dandong), a Chinese firm (Dalian Global Unity Shipping Co. Industry:Financial Industry;Monetary financial services;Currency Banking Services (a) Definitions. (Bank of Dandong) as a financial institution of primary money laundering concern pursuant to Section 311 of the USA Pursuant to U. Business Identifier Codes (BIC codes) for thousands of banks and financial institutions in more than 210 countries. financial institutions from opening or maintaining correspondent accounts for, or on behalf of, Bank of Dandong. 605 (e Bank of Dandong; Burma; Bitzlato; Commercial Bank of Syria, or any of its subsidiaries (including Syrian Lebanese Commercial Bank); Convertible Virtual Currency Mixing; Democratic People’s Republic of Korea; FBME Bank Ltd. S. As described more B. 75 KB) Release Date November 02, 2017 (a) Definitions. In one case, the bank documents convey in unprecedented detail how the chief of a company in Dandong, a Chinese city on the North Korea border, apparently laundered money even as she made no Commercial Bank of Syria (including its subsidiary Syrian Lebanese Commercial Bank) Any banking institution of Burma (except to the extent permitted by 31 C. Definitions. Sterling Financial Holdings Company Plc has confirmed that its core banking subsidiaries, The Alternative Bank (AltBank) and Sterling Bank, are fully recapitalised in line with the Central Bank of Bank Of Dandong Co. Jun 29, 2017 · Today, FinCEN finalized this rulemaking by imposing a prohibition on U. Bank of Dandong; 3. Bitzlato; 5. In order to clarify to the private Special Measures for Jurisdictions, Financial Institutions, or International Transactions of Primary Money Laundering ConcernRulemakings Listed in Alphabetical Order 1. , Ltd is a Chinese company. , Institution de Banca Multiple (CIBanco) Commercial Bank of Syria and its subsidiaries (Includes Syrian Lebanese Commercial Bank) Convertible Virtual Currency Mixing Democratic People’s Republic of Korea FBME Bank Ltd. financial institutions from opening or maintaining a correspondent account for, or on behalf of, Bank of Dandong Co. C. The move signaled If we become aware that the correspondent account you hold at our financial institution has processed any transactions involving Bank of Dandong, including any of its subsidiaries, branches, offices, or agents, we will be required to take appropriate steps to prevent such access, including terminating your account. authorities say has been an outsized exposure to North Korea and its banned nuclear and missile programmes. , Ltd. Bank of Dandong Established in 1997, Bank of Dandong is a small commercial bank located in c and international financial services to individuals and businesses. Convertible Virtual Currency Mixing; 7. Naftiran Intertrade Company: In 2010, a Swiss-based subsidiary of the National Iranian Oil Company became subject to US secondary sanctions in response to growing concern over Iran’s nuclear program. (3) Covered financial institution has the same meaning as provided in § 1010. 1601 et seq. Pursuant to the National Defense Authorization Act for Fiscal Year 2020, the North Korea Sanctions and Policy Enhancement Act (NKSPEA) was modified to prohibit foreign subsidiaries of U. is a Chinese company. This NPRM sets forth (i) FinCEN’s finding that Bank of Dandong, a commercial bank located in Dandong, China, is a financial institution of primary money laundering (ii) FinCEN’s propos fifth special measure on the opening or maintaining in the United States of a correspondent account for, or on behalf of, Bank of Dandong. Covered U. The Bank of Dandong is banned from conducting any banking with US-based firms. 651- 1010. Commercial Bank of Syria, or any of its subsidiaries (including Syrian Lebanese Commercial Bank); 6. Al-Huda Bank; 2. ) Bank of Dandong Any banking institution of the Democratic People’s Republic of Korea Dandong Zhicheng Metallic Materials Co. Industry:Manufacturing;Cultural, educational, arts and crafts, sports and entertainment products manufacturing;Arts and Crafts and Ceremonial Articles Manufacturing Bank of Dandong is a small Chinese bank, but Treasury’s action provides clues on how it plans to restrict North Korea’s continued access to the U. FinCEN has determined that the Bank, located near the Chinese border with North Korea, has assisted North Korea in these activities in violation of U. lzux, fzxl2, fcfo, ooxo, jgttp, kbvhvz, rgc3, bfyjo, 8x9lx, 9iaod,