Swift has cut off three North Korean banks from its messaging system under United Nations (UN) sanctions, after Belgium says it would no longer give authorisation for such transactions.
According to Reuters, North Korea’s “intensifying provocations”, such as missile launches, led to the Belgian foreign ministry’s decision. Let’s face it – the nation behaves like a prat. North Korea, not Belgium.
The three affected banks named by the UN panel are Bank of East Land, Korea Daesong Bank and Korea Kwangson Banking Corp. In fact, Bank of East Land was blacklisted in 2013, while the other two were blacklisted last year. North Korea is also one of the lowest users of Swift’s messaging service.
