SWIFT, the global banking communications service, announced on March 8 that it recently suspended the North Korean banks' access to its vast network, which connects more than 11,000 entities around the world.

As reported by CNN, financial firms use SWIFT for millions of transactions each day, such as transferring money and settling trades.

What is not clear is why the North Korean banks were still able to operate in a mainstream part of the global financial system even though they had been...

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