#aae? ,,congress  #a/ ,session  ,h4 ,r4 
#chih  ,,an ,,act  ,to impose second>y  
sanctions ) respect to ,nor? ,korea1    
/r5g!n int]national ef=ts to improve    
sanctions en=cem5t1 & = o!r purposes4   
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,otto ,w>mbi] ,nor? ,korea ,nucle>    
,sanctions ,act4  #b4 ,f9d+s ,!         
,congress f9ds ! foll[+3  7#a7 ,on ,june
 #a1 #bjaf1 ! ,dep>tm5t ( ! ,treasury's 
,f9ancial ,crimes ,en=cem5t ,network    
ann\nc$ a ,notice ( ,f9d+ t !           
,democratic ,p's ,republic ( ,korea is a
 jurisdiction ( prim>y money laund]+    
conc]n due to its use ( /ate-controll$  
f9ancial in/itutions & front companies  
to support ! prolif]ation & developm5t (
 weapons ( mass de/ruction 7,,wmd7 &    
balli/ic missiles4  7#b7 ,! ,f9ancial   
,action ,task ,=ce 7,,fatf7 has express$
 s]i\s conc]ns ) ! ?reat pos$ by ,nor?  
,korea's prolif]ation & f9anc+ ( ,,wmd1 
& has call$ on ,,fatf memb]s to apply   
effective c\nt]-measures to protect _!  
f9ancial sectors f ,nor? ,korean money  

laund]+1 ,,wmd prolif]ation f9anc+1 & ! 
f9anc+ ( t]rorism4  7#c7 ,9 its ,febru>y
 #bjag report1 ! ,u4,n4 ,panel ( ,exp]ts
 conclud$ t-- 7,a7 ,nor? ,korea cont9u$ 
to access ! int]national f9ancial sy/em 
9 support ( illicit activities despite  
sanctions impos$ by ,u4,n4 ,security    
,c\ncil ,resolutions #bbgj 7#bjaf7 &    
#bcba 7#bjaf72  7,b7 dur+ ! report+     
p]iod1 no memb] /ate _h report$ tak+    
actions to freeze ,nor? ,korean assets2 
&  7,c7 sanctions evasion by ,nor?      
,korea1 comb9$ ) inadequate compliance  
by memb] /ates1 _h significantly negat$ 
! impact ( ,u4,n4 ,security ,c\ncil     
resolutions4  7#d7 ,9 its ,septemb]     
#bjag report1 ! ,u4,n4 ,panel ( ,exp]ts 
f\nd t-- 7,a7 ,nor? ,korea cont9u$ to   
violate f9ancial sanctions by us+ ag5ts 
act+ abroad on ! c\ntry's behalf2  7,b7 
=eign f9ancial in/itutions provid$      
correspond5t bank+ s]vices to ,nor?     
,korean p]sons & front companies =      
illicit purposes2  7,c7 =eign companies 
violat$ sanctions by ma9ta9+ l9ks )     

,nor? ,korean f9ancial in/itutions2 &   
7,d7 ,nor? ,korea g5]at$ at lea/ #bgj   
million dur+ ! report+ p]iod ?r\gh !    
violation ( sectoral sanctions4  7#e7   
,nor? ,korean entities engage 9         
significant f9ancial transactions ?r\gh 
=eign bank acc\nts t are ma9ta9$ by     
non-,nor? ,korean nationals1 !reby mask+
 acc\nt us]s' id5tity 9 ord] to access  
f9ancial s]vices4  7#f7 ,nor? ,korea's  
six? nucle> te/ on ,septemb] #c1 #bjag1 
demon/rat$ an e/imat$ explosive p[] m   
?an #ajj times great] ?an t g5]at$ by   
its fir/ nucle> te/ 9 #bjjf4  7#g7 ,nor?
 ,korea has successfully te/$           
subm>9e-laun*$ & int]cont95tal balli/ic 
missiles1 & is rapidly progress+ 9 its  
developm5t ( a nucle>-arm$ missile t is 
capable ( rea*+ ,unit$ ,/ates t]ritory4 
#c4 ,conditions ) respect to c]ta9      
acc\nts & transactions at ,unit$ ,/ates 
f9ancial in/itutions  7a7 ,correspond5t 
& payable-,?r\gh acc\nts held by =eign  
f9ancial in/itutions  7#a7 ,9 g5]al ,n  
lat] ?an #de days aft] ! date ( !       

enactm5t ( ?is ,act1 ! ,secret>y ( !    
,treasury %all prescribe regulations to 
prohibit1 or impose /rict conditions on1
 ! op5+ or ma9ta9+ 9 ! ,unit$ ,/ates ( a
 correspond5t acc\nt or a payable-?r\gh 
acc\nt by a =eign f9ancial in/itution t 
! ,secret>y f9ds kn[+ly facilitates a   
significant transaction or transactions 
or provides significant f9ancial s]vices
 = a cov]$ p]son4  7#b7 ,p5alties  7,a7 
,civil p5alty ,a p]son :o violates1     
attempts to violate1 conspires to       
violate1 or causes a violation (        
regulations prescrib$ "u ?is subsection 
%all be subject to a civil p5alty 9 an  
am\nt n to exce$ ! great] (--  7i7      
#bej1jjj2 or  7ii7 an am\nt t is twice !
 am\nt ( ! transaction t is ! basis ( ! 
violation ) respect to :i* ! p5alty is  
impos$4  7,b7 ,crim9al p5alty ,a p]son  
:o willfully commits1 willfully attempts
 to commit1 or willfully conspires to   
commit1 or aids or abets 9 ! commission 
(1 a violation ( regulations prescrib$  
"u ?is subsection %all1 ^u conviction1  

be f9$ n m ?an #a1jjj1jjj1 or if a      
natural p]son1 may be imprison$ = n m   
?an #bj ye>s1 or bo?4  7b7 ,re/rictions 
on c]ta9 transactions by ,unit$ ,/ates  
f9ancial in/itutions  7#a7 ,9 g5]al ,n  
lat] ?an #de days aft] ! date ( !       
enactm5t ( ?is ,act1 ! ,secret>y ( !    
,treasury %all prescribe regulations to 
prohibit a ,unit$ ,/ates f9ancial       
in/itution1 & any p]son own$ or         
controll$ by a ,unit$ ,/ates f9ancial   
in/itution1 f kn[+ly engag+ 9 a         
significant transaction or transactions 
) or b5efitt+ any p]son t ! ,secret>y   
f9ds to be a cov]$ p]son4  7#b7 ,civil  
p5alty ,a p]son :o violates1 attempts to
 violate1 conspires to violate1 or      
causes a violation ( regulations        
prescrib$ "u ?is subsection %all be     
subject to a civil p5alty 9 an am\nt n  
to exce$ ! great] (-- 7,a7 #bej1jjj2 or 
7,b7 an am\nt t is twice ! am\nt ( !    
transaction t is ! basis ( ! violation )
 respect to :i* ! p5alty is impos$4  #d4
 ,opposition to assi/ance by !          

int]national f9ancial in/itutions & !   
,export-,import ,bank  7a7 ,int]national
 f9ancial in/itutions ,! ,bretton ,woods
 ,agreem5ts ,act 7#bb ,u4,s4,c4 #bhf et 
seq47 is am5d$ by add+ at ! end !       
foll[+3  #gc4 ,opposition to assi/ance =
 any gov]nm5t t fails to implem5t       
sanctions on ,nor? ,korea  7a7 ,9 g5]al 
,! ,secret>y ( ! ,treasury %all in/ruct 
! ,unit$ ,/ates ,executive ,director at 
! int]national f9ancial in/itutions 7z  
def9$ "u section #agja7;c7 ( !          
,int]national ,f9ancial ,in/itutions    
,act7 to use ! voice & vote ( ! ,unit$  
,/ates to oppose ! provision ( f9ancial 
assi/ance to a =eign gov]nm5t1 o!r ?an  
assi/ance to support basic human ne$s1  
if ! ,presid5t det]m9es t1 9 ! ye>      
prec$+ consid]ation ( approval ( su*    
assi/ance1 ! gov]nm5t has kn[+ly fail$  
to prev5t ! provision ( f9ancial s]vices
 to1 or freeze ! funds1 f9ancial assets1
 & economic res\rces (1 a p]son describ$
 "u subp>agraphs 7,a7 ?r\gh 7,e7 (      
section #g7b7 ( ! ,otto ,w>mbi] ,nor?   

,korea ,nucle> ,sanctions ,act4  7b7    
,waiv] ,! ,presid5t may waive subsection
 7a7 = up to #ahj days at a "t ) respect
 to a =eign gov]nm5t if ! ,presid5t     
reports to ,congress t--  7#a7 ! =eign  
gov]nm5t's failure describ$ "u 7a7 is   
due exclusively to a lack ( =eign       
gov]nm5t capacity2  7#b7 ! =eign        
gov]nm5t is tak+ effective /eps to      
prev5t recurr5ce ( su* failure2 or  7#c7
 su* waiv] is vital to ! national       
security int]e/s ( ! ,unit$ ,/ates4  4  
7b7 ,export-,import ,bank ,section      
#b7;b7 ( ! ,export-,import ,bank ,act ( 
#aide 7#ab ,u4,s4,c4 #fce7;b77 is am5d$ 
by add+ at ! end ! foll[+3  7#ad7       
,prohibition on support involv+ p]sons  
connect$ ) ,nor? ,korea ,! ,bank may n  
gu>antee1 insure1 or ext5d cr$it1 or    
p>ticipate 9 ! ext5sion ( cr$it 9       
connection ) ! export ( a good or s]vice
 to a cov]$ p]son 7z def9$ "u section #g
 ( ! ,otto ,w>mbi] ,nor? ,korea ,nucle> 
,sanctions ,act74  4  #e4 ,treasury     
reports on compliance1 p5alties1 &      

te*nical assi/ance  7a7 ,qu>t]ly report 
7#a7 ,9 g5]al ,n lat] ?an #abj days     
foll[+ ! date ( ! enactm5t ( ?is ,act1 &
 e #ij days !reaft]1 ! ,secret>y ( !    
,treasury %all submit a report to !     
,committee on ,f9ancial ,s]vices ( !    
,h\se ( ,repres5tatives & ! ,committee  
on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! 
,s5ate t includes--  7,a7 a li/ (       
f9ancial in/itutions t1 9 ! p]iod s9ce !
 prec$+ report1 kn[+ly facilitat$ a     
significant transaction or transactions 
or provid$ significant f9ancial s]vices 
= a cov]$ p]son1 or fail$ to apply      
appropriate due dilig5ce to prev5t su*  
activities2  7,b7 a li/ ( any p5alties  
impos$ "u section #c 9 ! p]iod s9ce !   
prec$+ report2 &  7,c7 a description (  
ef=ts by ! ,dep>tm5t ( ! ,treasury 9 !  
p]iod s9ce ! prec$+ report1 ?r\gh       
consultations1 te*nical assi/ance1 or   
o!r appropriate activities1 to /r5g!n ! 
capacity ( f9ancial in/itutions & =eign 
gov]nm5ts to prev5t ! provision (       
f9ancial s]vices b5efitt+ any cov]$     

p]son4  7#b7 ,=m ( report2 public       
availability  7,a7 ,=m ,! report requir$
 "u p>agraph 7#a7 %all be submitt$ 9    
unclassifi$ =m b may conta9 a classifi$ 
annex4  7,b7 ,public availability ,!    
unclassifi$ portion ( su* report %all be
 made available to ! public & po/$ on ! 
website ( ! ,dep>tm5t ( ! ,treasury4    
7b7 ,te/imony requir$ ,^u reque/ ( !    
,committee on ,f9ancial ,s]vices ( !    
,h\se ( ,repres5tatives or ! ,committee 
on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! 
,s5ate1 ! ,"u ,secret>y ( ! ,treasury = 
,t]rorism & ,f9ancial ,intellig5ce %all 
te/ify to expla9 ! effects ( ?is ,act1 &
 ! am5dm5ts made by ?is ,act1 on ,nor?  
,korea's access to f9ance4  7c7         
,int]national ,monet>y ,fund ,title     
,,xvi ( ! ,int]national ,f9ancial       
,in/itutions ,act 7#bb ,u4,s4,c4 #bfbp  
et seq47 is am5d$ by add+ at ! end !    
foll[+3  #afbi4 ,support = capacity ( ! 
,int]national ,monet>y ,fund to prev5t  
money laund]+ & f9anc+ ( t]rorism ,!    
,secret>y ( ! ,treasury %all in/ruct !  

,unit$ ,/ates ,executive ,director at ! 
,int]national ,monet>y ,fund to support 
! use ( ! adm9i/rative budget ( ! ,fund 
= te*nical assi/ance t /r5g!ns !        
capacity ( ,fund memb]s to prev5t money 
laund]+ & ! f9anc+ ( t]rorism4  4  7d7  
,national ,advisory ,c\ncil report to   
,congress ,! ,*airman ( ! ,national     
,advisory ,c\ncil on ,int]national      
,monet>y & ,f9ancial ,policies %all     
include 9 ! report requir$ by section   
#agja ( ! ,int]national ,f9ancial       
,in/itutions ,act 7#bb ,u4,s4,c4 #bfbr7 
= ! fiscal ye> foll[+ ! date ( !        
enactm5t ( ?is ,act a description (--   
7#a7 ! activities ( ! ,int]national     
,monet>y ,fund 9 ! mo/ rec5tly complet$ 
fiscal ye> to provide te*nical assi/ance
 t /r5g!ns ! capacity ( ,fund memb]s to 
prev5t money laund]+ & ! f9anc+ (       
t]rorism1 & ! effectiv5ess ( !          
assi/ance2 &  7#b7 ! efficacy ( ef=ts by
 ! ,unit$ ,/ates to support su* te*nical
 assi/ance ?r\gh ! use ( ! ,fund's      
adm9i/rative budget4  #f4 ,susp5sion &  

t]m9ation ( prohibitions & p5alties  7a7
 ,susp5sion ,! ,presid5t may susp5d1 on 
a case-by-case basis1 ! application (   
any provision ( ?is ,act1 or provision 9
 an am5dm5t made by ?is ,act1 = a p]iod 
( n m ?an #ahj days at a "t if !        
,presid5t c]tifies to ,congress t--     
7#a7 ! ,gov]nm5t ( ,nor? ,korea has--   
7,a7 committ$ to ! v]ifiable susp5sion (
 ,nor? ,korea's prolif]ation & te/+ (   
,,wmd1 includ+ sy/ems design$ 9 :ole or 
9 "p = ! deliv]y ( su* weapons2 &  7,b7 
has agre$ to multilat]al talks includ+ !
 ,gov]nm5t ( ! ,unit$ ,/ates1 ) ! goal (
 p]man5tly & v]ifiably limit+ ,nor?     
,korea's ,,wmd & balli/ic missile       
programs2 or  7#b7 su* susp5sion is     
vital to ! national security int]e/s ( !
 ,unit$ ,/ates1 ) an explanation ( !    
reasons !re=4  7b7 ,t]m9ation  7#a7 ,9  
g5]al ,on ! date t is #cj days aft] !   
date on :i* ! ,presid5t makes !         
c]tification describ$ "u p>agraph 7#b7--
 7,a7 section #c1 subsections 7a7 & 7b7 
( section #e1 & section #f7;a7 ( ?is    

,act %all cease to h any =ce or effect2 
7,b7 section #gc ( ! ,bretton ,woods    
,agreem5ts ,act1 z add$ by section      
#d7;a71 %all be repeal$2 &  7,c7 section
 #b7;b77#ad7 ( ! ,export-,import ,bank  
,act ( #aide1 z add$ by section #d7;b71 
%all be repeal$4  7#b7 ,c]tification ,! 
c]tification describ$ "u ?is p>agraph is
 a c]tification by ! ,presid5t to !     
,congress t-- 7,a7 ! ,gov]nm5t ( ,nor?  
,korea--  7i7 has ceas$ to pose a       
significant ?reat to national security1 
) an explanation ( ! reasons !re=2 or   
7ii7 is committ$ to1 & is tak+ effective
 /eps to a*iev+1 ! goal ( p]man5tly &   
v]ifiably limit+ ,nor? ,korea's ,,wmd & 
balli/ic missile programs2 or  7,b7 su* 
t]m9ation is vital to ! national        
security int]e/s ( ! ,unit$ ,/ates1 ) an
 explanation ( ! reasons !re=4  #g4     
,def9itions ,= purposes ( ?is ,act3     
7#a7 ,t]ms relat$ to ,nor? ,korea ,!    
t]ms applicable ,executive ord]1        
,gov]nm5t ( ,nor? ,korea1 ,nor? ,korea1 
,nor? ,korean p]son1 & significant      

activities und]m9+ cyb]security h !     
mean+s giv5 ^? t]ms1 respectively1 9    
section #c ( ! ,nor? ,korea ,sanctions &
 ,policy ,enhancem5t ,act ( #bjaf 7#bb  
,u4,s4,c4 #ibjb74  7#b7 ,cov]$ p]son ,! 
t]m cov]$ p]son means ! foll[+3  7,a7   
,any designat$ p]son "u an applicable   
,executive ord]4  7,b7 ,any ,nor?       
,korean p]son t facilitates ! transf] ( 
bulk ca% or cov]$ goods 7z def9$ "u     
section #ajbg4ajj ( title #ca1 ,code (  
,f$]al ,regulations74  7,c7 ,any ,nor?  
,korean f9ancial in/itution4  7,d7 ,any 
,nor? ,korean p]son employ$ outside (   
,nor? ,korea1 except t ! ,secret>y ( !  
,treasury may waive ! application ( ?is 
subp>agraph = a ,nor? ,korean p]son t is
 n o!rwise a cov]$ p]son &--  7i7 has   
be5 grant$ asylum or refugee /atus by ! 
c\ntry ( employm5t2 or  7ii7 is employ$ 
z ess5tial diplomatic p]sonnel = !      
,gov]nm5t ( ,nor? ,korea4  7,e7 ,any    
p]son act+ on behalf (1 or at !         
direction (1 a p]son describ$ "u        
subp>agraphs 7,a7 ?r\gh 7,d74  7,f7 ,any

 p]son t kn[+ly employs a p]son describ$
 "u subp>agraph 7,d74  7,g7 ,any p]son t
 facilitates ! import ( goods1 s]vices1 
te*nology1 or natural res\rces1 includ+ 
en]gy imports & m9]als1 or _!           
d]ivatives1 f ,nor? ,korea4  7,h7 ,any  
p]son t facilitates ! export ( goods1   
s]vices1 te*nology1 or natural res\rces1
 includ+ en]gy exports & m9]als1 or _!  
d]ivatives1 to ,nor? ,korea1 except =   
food1 m$ic9e1 or m$ical supplies requir$
 = civilian humanit>ian ne$s4  7,i7 ,any
 p]son t inve/s 91 or p>ticipates 9 a   
jo9t v5ture )1 an entity 9 :i* !        
,gov]nm5t ( ,nor? ,korea p>ticipates or 
an entity t is creat$ or organiz$ "u    
,nor? ,korean law4  7,j7 ,any p]son t   
provides f9ancial s]vices1 includ+ ?r\gh
 a subsidi>y or jo9t v5ture1 9 ,nor?    
,korea4  7,k7 ,any p]son t insures1     
regi/]s1 facilitates ! regi/ration (1 or
 ma9ta9s insurance or a regi/ration =1 a
 vessel own$1 controll$1 comm&$1 or     
op]at$ by a ,nor? ,korean p]son4  7,l7  
,any p]son provid+ specializ$ tea*+1    

tra9+1 or in=mation or provid+ mat]ial  
or te*nological support to a ,nor?      
,korean p]son t--  7i7 may contribute to
 ,nor? ,korea's developm5t &            
prolif]ation ( ,,wmd1 includ+ sy/ems    
design$ 9 :ole or 9 "p = ! deliv]y ( su*
 weapons2 or  7ii7 may contribute to    
significant activities und]m9+          
cyb]security4  7#c7 ,f9ancial in/itution
 def9itions  7,a7 ,f9ancial in/itution  
,! t]m f9ancial in/itution means a      
,unit$ ,/ates f9ancial in/itution or a  
=eign f9ancial in/itution4  7,b7 ,=eign 
f9ancial in/itution ,! t]m =eign        
f9ancial in/itution has ! mean+ giv5 t  
t]m "u section #ajaj4fje ( title #ca1   
,code ( ,f$]al ,regulations4  7,c7 ,nor?
 ,korean f9ancial in/itution ,! t]m     
,nor? ,korean f9ancial in/itution       
includes-- 7i7 any ,nor? ,korean        
f9ancial in/itution1 z def9$ 9 section  
#c ( ! ,nor? ,korea ,sanctions & ,policy
 ,enhancem5t ,act ( #bjaf 7#bb ,u4,s4,c4
 #ibjb72  7ii7 any f9ancial ag5cy1 z    
def9$ 9 section #ecab ( title #ca1      

,unit$ ,/ates ,code1 t is own$ or       
controll$ by ! ,gov]nm5t ( ,nor? ,korea2
  7iii7 any money transmitt+ bus9ess1 z 
def9$ 9 section #eccj7;d7 ( title #ca1  
,unit$ ,/ates ,code1 t is own$ or       
controll$ by ! ,gov]nm5t ( ,nor? ,korea2
  7iv7 any f9ancial in/itution t is a   
jo9t v5ture betwe5 any p]son & !        
,gov]nm5t ( ,nor? ,korea2 &  7v7 any    
jo9t v5ture involv+ a ,nor? ,korean     
f9ancial in/itution4  7,d7 ,unit$ ,/ates
 f9ancial in/itution ,! t]m ,unit$      
,/ates f9ancial in/itution has ! mean+  
giv5 ! t]m ,u4,s4 f9ancial in/itution "u
 section #eaj4caj ( title #ca1 ,code (  
,f$]al ,regulations4  7#d7 ,kn[+ly ,!   
t]m kn[+ly ) respect to conduct1 a      
circum/ance1 or a result1 means t a     
p]son has actual k1 or %\ld h kn[n1 ( ! 
conduct1 ! circum/ance1 or ! result4    
,pass$ ! ,h\se ( ,repres5tatives ,octob]
 #bd1 #bjag4;,cl]k4