Important: Suspension of overseas remittance services to certain countries

August 22, 2024

Thank you for using Seven Bank international money transfer service.

Apart from Iran and North Korea, the countries and regions listed in the FATF statement as high-risk also include those with suspended membership in the FATF (*1), individual targets of OFAC (*2), and countries and regions subject to sanctions under the Ministry of Finance and the Foreign Exchange Act.
We have evaluated that conducting transactions with these countries and regions poses a substantial risk and have therefore opted to suspend overseas remittance services.

We sincerely regret any inconvenience this may have caused our customers and value your patience. We will share additional information on our website once the service has been reinstated.

The discontinuation of remittance services will commence on August 21, 2024.

Overseas remittances will be suspended in certain countries.

Myanmar	Democratic Republic of the Congo	Afghanistan
Mali	Yemen	Serbia
Lebanon	Haiti	Macedonia
Iraq	Bosnia and Herzegovina	Central African Republic
Croatia	Sudan	Montenegro
Slovenia	South Sudan	Libya
Venezuela *3

• *1 FATF refers to the Financial Action Task Force.
  The Financial Action Task Force was created following the 1989 Arche Summit Economic Declaration to serve as a multilateral system tasked with developing and enforcing global regulations for preventing money laundering.
• *2 The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury implements actions like prohibiting transactions and immobilizing assets regarding countries and regions sanctioned by the U.S., as well as certain individuals and groups, for foreign policy and security reasons. These rules are known as OFAC regulations.
• *3 Starting from Wednesday, September 4th, 2024, overseas remittance services to Venezuela will be suspended.