# The Democratic People's Republic of Korea (Sanctions) (EU Exit) Regulations 2019, Regulation 28: Transfers of funds etc.

Extent: E+W+S+N.I.

(1) A person must not make or receive a transfer of funds which that person knows or has reasonable cause to suspect is a transfer of funds to or from the DPRK.
(2) A UK credit or financial institution must not enter into, or continue to participate in, any transaction with a person who the institution knows or has reasonable cause to suspect to be a person falling within regulation 18(2).
(3) Paragraphs (1) and (2) are subject to Part 9 (Exceptions and licences).
(4) A person who contravenes a prohibition in paragraph (1) or (2) commits an offence.
(5) In this regulation the reference to a transfer of funds includes the clearing of funds.

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Source: https://www.legislation.gov.uk/uksi/2019/411/regulation/28 (the official version)
Page: https://openlegislation.uk/democratic-peoples-republic-of-korea-sanctions-eu-exit-regulations-2019/regulation-28
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.