Lord Alton of Liverpool – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Lord Alton of Liverpool on 2016-05-25.

To ask Her Majesty’s Government how the Treasury ascertains that the funds of UK companies that operate in North Korea do not contribute to that country’s nuclear and ballistic missile programme or its human rights violations.

Lord O’Neill of Gatley

The Office of Financial Sanctions Implementation (OFSI) in HM Treasury is responsible for ensuring that financial sanctions, including those relating to the Democratic People’s Republic of Korea’s (North Korea), are properly understood, implemented and enforced in the United Kingdom.

OFSI is not an investigative or prosecutorial body but reviews suspected breaches of financial sanctions and then passes information to law enforcement bodies who would determine whether an investigation and or prosecution is appropriate.