(A) the Committee on Foreign Affairs, the 
Committee on Ways and Means, and the Com-
mittee on Financial Services of the House of 
Representatives; and 
(B) the Committee on Foreign Relations 
and the Committee on Banking, Housing, and 
Urban Affairs of the Senate. 
(4) DESIGNATED
PERSON.—The term ‘‘des-
ignated person’’ means a person designated under 
subsection (a) or (b) of section 104 for purposes of 
applying one or more of the sanctions described in 
title I or II of this Act with respect to the person. 
(5) GOVERNMENT
OF
NORTH
KOREA.—The 
term ‘‘Government of North Korea’’ means— 
(A) the Government of the Democratic 
People’s Republic of Korea or any political sub-
division, agency, or instrumentality thereof; and 
(B) any person owned or controlled by, or 
acting for or on behalf of, the Government of 
the Democratic People’s Republic of Korea. 
(6) INTERNATIONAL
TERRORISM.—The term 
‘‘international terrorism’’ has the meaning given 
such term in section 140(d) of the Foreign Relations 
Authorization Act, Fiscal Years 1988 and 1989 (22 
U.S.C. 2656f(d)), and includes the conduct de-
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scribed in section 212(a)(3)(B)(iii) of the Immigra-
tion 
and 
Nationality 
Act 
(8 
U.S.C. 
1182(a)(3)(B)(iii)), to the extent such conduct in-
volves the citizens of more than one country. 
(7) LUXURY GOODS.—The term ‘‘luxury goods’’ 
has the meaning given such term in subpart 746.4 
of title 15, Code of Federal Regulations, and in-
cludes the items listed in Supplement No. 1 to such 
regulation, and any similar items. 
(8) MONETARY INSTRUMENT.—The term ‘‘mon-
etary instrument’’ has the meaning given such term 
under section 5312 of title 31, United States Code. 
(9) NORTH KOREAN FINANCIAL INSTITUTION.— 
The term ‘‘North Korean financial institution’’ 
means— 
(A) a financial institution organized under 
the laws of North Korea or any jurisdiction 
within North Korea (including a foreign branch 
of such institution); 
(B) any financial institution located in 
North Korea, except as may be excluded from 
such definition by the President in accordance 
with section 207(d); 
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(C) any financial institution, wherever lo-
cated, owned or controlled by the Government 
of North Korea; and 
(D) any financial institution, wherever lo-
cated, owned or controlled by a financial insti-
tution described in subparagraph (A), (B), or 
(C). 
(10) OTHER
STORES
OF
VALUE.—The term 
‘‘other stores of value’’ means— 
(A) prepaid access devices, tangible or in-
tangible prepaid access devices, or other instru-
ments or devices for the storage or transmission 
of value, as defined in part 1010 of title 31, 
Code of Federal Regulations; and 
(B) any covered goods, as defined in sec-
tion 1027.100 of title 31, Code of Federal Reg-
ulations, and any instrument or tangible or in-
tangible access device used for the storage and 
transmission of a representation of covered 
goods, or other device, as defined in section 
1027.100 of title 31, Code of Federal Regula-
tions. 
(11) PERSON.—The term ‘‘person’’ means an 
individual or entity as determined by the Secretary 
of State and the Secretary of the Treasury. 
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(12) SIGNIFICANT
ACTIVITIES
UNDERMINING 
CYBER SECURITY.—The term ‘‘significant activities 
undermining cyber security’’ means— 
(A) significant efforts to— 
(i) deny access to or degrade, disrupt, 
or destroy an information and communica-
tions technology system or network; or 
(ii) exfiltrate information from such a 
system or network without authorization; 
(B) significant destructive malware at-
tacks; 
(C) significant denial of service activities; 
or 
(D) such other significant activities as may 
be described in regulations promulgated to im-
plement section 104. 
(13) UNITED
STATES
PERSON.—The term 
‘‘United States person’’ means— 
(A) a natural person who is a citizen of the 
United States or who owes permanent alle-
giance to the United States; and 
(B) a corporation or other legal entity 
which is organized under the laws of the United 
States, any State or territory thereof, or the 
District of Columbia, if natural persons de-
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scribed in subparagraph (A) own, directly or in-
directly, more than 50 percent of the out-
standing capital stock or other beneficial inter-
est in such legal entity. 
TITLE I—INVESTIGATIONS, PRO-
HIBITED CONDUCT, AND PEN-
ALTIES 
SEC. 101. STATEMENT OF POLICY. 
In order to achieve the peaceful disarmament of 
North Korea, Congress finds that it is necessary— 
(1) to encourage all states to fully and promptly 
implement United Nations Security Council Resolu-
tion 2094 (2013); 
(2) to sanction— 
(A) persons that facilitate proliferation of 
weapons of mass destruction, illicit activities, 
arms trafficking, imports of luxury goods, cash 
smuggling, censorship, and knowingly engage in 
significant activities undermining cyber security 
by the Government of North Korea; and 
(B) persons that fail to exercise due dili-
gence to ensure that financial institutions do 
not facilitate any of the activities described in 
subparagraph (A) by the Government of North 
Korea; 
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(3) to deny the Government of North Korea ac-
cess to the funds it uses to obtain nuclear weapons, 
ballistic missiles, offensive cyber capabilities, and 
luxury goods instead of providing for the needs of its 
people; and 
(4) to enforce sanctions in a manner that 
avoids any adverse humanitarian impact on the peo-
ple of North Korea to the extent possible and in a 
manner that does not unduly constrain the enforce-
ment of such sanctions. 
SEC. 102. INVESTIGATIONS. 
The President shall initiate an investigation into the 
possible designation of a person under section 104(a) upon 
receipt by the President of credible information indicating 
that such person has engaged in conduct described in sec-
tion 104(a). 
SEC. 103. BRIEFING TO CONGRESS. 
Not later than 180 days after the date of the enact-
ment of this Act, and periodically thereafter, the President 
shall provide to the appropriate congressional committees 
a briefing on efforts to implement this Act, to include the 
following, to the extent the information is available: 
(1) The principal foreign assets and sources of 
foreign income of the Government of North Korea. 
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(2) A list of the persons designated under sub-
sections (a) and (b) of section 104. 
(3) A list of the persons with respect to which 
sanctions were waived or removed under section 207. 
(4) A summary of any diplomatic efforts made 
in accordance with section 202(b) and of the 
progress realized from such efforts, including efforts 
to encourage the European Union and other states 
and jurisdictions to sanction and block the assets of 
the Foreign Trade Bank of North Korea and 
Daedong Credit Bank. 
SEC. 104. DESIGNATION OF PERSONS FOR PROHIBITED 
CONDUCT AND MANDATORY AND DISCRE-
TIONARY DESIGNATION AND SANCTIONS AU-
THORITIES. 
(a) PROHIBITED CONDUCT AND MANDATORY DES-
IGNATION AND SANCTIONS AUTHORITY.— 
(1) CONDUCT DESCRIBED.—Except as provided 
in section 207, the President shall designate under 
this subsection any person the President determines 
to— 
(A) have knowingly engaged in significant 
activities or transactions with the Government 
of North Korea that have materially contrib-
uted to the proliferation of weapons of mass de-
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struction or their means of delivery (including 
missiles capable of delivering such weapons), in-
cluding any efforts to manufacture, acquire, 
possess, develop, transport, transfer, or use 
such items; 
(B) have knowingly imported, exported, or 
reexported to, into, or from North Korea any 
significant arms or related materiel, whether di-
rectly or indirectly; 
(C) have knowingly provided significant 
training, advice, or other services or assistance, 
or engaged in significant transactions, related 
to the manufacture, maintenance, or use of any 
arms or related materiel to be imported, ex-
ported, or reexported to, into, or from North 
Korea, or following their importation, expor-
tation, or reexportation to, into, or from North 
Korea, whether directly or indirectly; 
(D) have knowingly, directly or indirectly, 
imported, exported, or reexported significant 
luxury goods to or into North Korea; 
(E) have knowingly engaged in or been re-
sponsible for censorship by the Government of 
North Korea, including prohibiting, limiting, or 
penalizing the exercise of freedom of expression 
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or assembly, limiting access to print, radio or 
other broadcast media, Internet or other elec-
tronic communications, or the facilitation or 
support of intentional frequency manipulation 
that would jam or restrict an international sig-
nal; 
(F) have knowingly engaged in or been re-
sponsible for serious human rights abuses by 
the Government of North Korea, including tor-
ture or cruel, inhuman, or degrading treatment 
or punishment, prolonged detention without 
charges and trial, forced labor or trafficking in 
persons, causing the disappearance of persons 
by the abduction and clandestine detention of 
those persons, and other denial of the right to 
life, liberty, or the security of a person; 
(G) have knowingly, directly or indirectly, 
engaged in acts of money laundering, the coun-
terfeiting of goods or currency, bulk cash smug-
gling, narcotics trafficking, or other illicit activ-
ity that involves or supports the Government of 
North Korea or any senior official thereof, 
whether directly or indirectly; or 
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(H) have knowingly attempted to engage in 
any of the conduct described in subparagraphs 
(A) through (G) of this paragraph. 
(2) EFFECT OF DESIGNATION.—With respect to 
any person designated under this subsection, the 
President— 
(A) shall exercise the authorities of the 
International Emergency Economic Powers Act 
(50 U.S.C. 1705 et seq.) to block all property 
and interests in property of any person des-
ignated under this subsection that are in the 
United States, that hereafter come within the 
United States, or that are or hereafter come 
within the possession or control of any United 
States person, including any overseas branch; 
and 
(B) may apply any of the sanctions de-
scribed in sections 204, 205(c), and 206. 
(3) PENALTIES.—The penalties provided for in 
section 206 of the International Emergency Eco-
nomic Powers Act (50 U.S.C. 1705) shall apply to 
a person who violates, attempts to violate, conspires 
to violate, or causes a violation of any prohibition 
provided for in this subsection, or of an order or reg-
ulation prescribed under this Act, to the same extent 
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that such penalties apply to a person that commits 
an unlawful act described in section 206(a) of that 
Act (50 U.S.C. 1705(a)). 
(4) DEFINITION.—In paragraph (1)(F), the 
term ‘‘trafficking in persons’’ has the meaning given 
the term in section 103(9) of the Trafficking Vic-
tims Protection Act of 2000 (22 U.S.C. 7102(9)). 
(b) DISCRETIONARY DESIGNATION AND SANCTIONS 
AUTHORITY.— 
(1) CONDUCT DESCRIBED.—Except as provided 
in section 207 and paragraph (3) of this subsection, 
the President may designate under this subsection 
any person that the President determines to— 
(A) have knowingly engaged in, contrib-
uted to, assisted, sponsored, or provided finan-
cial, material or technological support for, or 
goods and services in support of, any violation 
of, or evasion of, an applicable United Nations 
Security Council resolution; 
(B) have knowingly facilitated the transfer 
of any funds, financial assets, or economic re-
sources of, or property or interests in property 
of a person designated under an applicable Ex-
ecutive order, or by the United Nations Secu-
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rity Council pursuant to an applicable United 
Nations Security Council resolution; 
(C) have knowingly facilitated the transfer 
of any funds, financial assets, or economic re-
sources, or any property or interests in property 
derived from, involved in, or that has materially 
contributed to conduct prohibited by subsection 
(a) or an applicable United Nations Security 
Council resolution; 
(D) have knowingly facilitated any trans-
action, including any transaction in bulk cash 
or other stores of value, without applying en-
hanced monitoring to ensure that such trans-
action does not contribute materially to conduct 
described in subsection (a) an applicable Execu-
tive order, or an applicable United Nations Se-
curity Council resolution; 
(E) have knowingly facilitated any trans-
actions in cash or monetary instruments or 
other stores of value, including through cash 
couriers transiting to or from North Korea, 
used to facilitate any conduct prohibited by an 
applicable United Nations Security Council res-
olution; 
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