The United States took steps Wednesday to lock North Korea out of the world financial system as it officially branded the country a "global money laundering concern."

The United States took steps Wednesday to lock North Korea out of the world financial system as it officially branded the country a "global money laundering concern."

The move, which if finalized would block any North Korean financial activities from the US banking system, comes in parallel to a recent United Nations Security Council resolution that could require all UN members to cut off banking relations with Pyongyang.