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.

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).

Paragraphs (1) and (2) are subject to Part 9 (Exceptions and licences).

A person who contravenes a prohibition in paragraph (1) or (2) commits an offence.

In this regulation the reference to a transfer of funds includes the clearing of funds.