NKorea opened accounts at 23 banks in 10 countries: report

Spacewar.com ^ | 08/19/2006 | AFP

[garbageseeker]

North Korea has opened new accounts at 23 banks in 10 countries since the United States suspended operations with a Macau bank accused of illicit dealings with Pyongyang, a report said Saturday. The accounts were set up in Mongolia, Russia and Vietnam, among other countries, the Sankei Shimbun newspaper said, citing an unnamed source familiar with North Korean matters.

The United States, concerned that the new bank accounts may be used for transactions related to weapons proliferation or other criminal activity, has asked authorities in those countries to freeze the accounts, the paper said.

North Korea allegedly opened the accounts after the United States last year banned US financial institutions from dealing with Banco Delta Asia (BDA), which it suspects of being a willing front for laundering money for Pyongyang.

Last month, a South Korean lawmaker said the Bank of China had frozen all North Korean accounts after US financial investigators reportedly discovered fake US dollar bills at its branch in Macau.

[Normal4me]

All your cash are belong to us! :-)

[BBell]

I hope these banks aren't dumb enough to accept U.S. currency from the North Koreans.

[garbageseeker]

The banks need to check their money.

[garbageseeker]

These banks will. Bankers in this part of the world do not have any ethics. They will take money from drug dealers, arms traffickers and all other criminals. The bankers probably receive a percentage from every deposit these people make.

[The Electrician]

North Korea has opened new accounts at 23 banks in 10 countries

Let me guess... They did it for the free toasters...

[1rudeboy]

Does the NYT approve?

[avacado]

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Does the NYT approve?
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LOL !!!

[holden]

Are we not meant to understand that the "Macau bank" mentioned in the first sentence is actually "Bank of China's" Macau branch?

HF

[garbageseeker]

LOL

[garbageseeker]

Probably.

[Larry Lucido]

Yeah, I think North Korea was in line in front of me the other day opening an account. Took forever to decide on the toaster oven or the tote bag.

[Larry Lucido]

:-)

[Jet Jaguar]

N. Korea Opened Vietnam Bank Accounts, Intelligence Report Says

Aug. 20 (Bloomberg) -- North Korea has opened bank accounts in Vietnam and other Asian and European countries that the U.S. suspects are used to handle money for illicit arms trade and other illegal activities, a joint intelligence report shows.

Stuart Levey, the U.S. under-secretary for terrorism and financial intelligence, traveled to Vietnam on July 18-19 to warn foreign ministry and central bank officials that North Korea had opened 10 accounts, according to the report, which was obtained by Lee Young Hwa, a professor of economics at Japan's Kansai University, and shown to Bloomberg News.


http://www.bloomberg.com/apps/news?pid=20601080&sid=ai0Lq7dQvQyo&refer=asia

[musicman]

"All your cash are belong to us! :-)"

[garbageseeker]

Is it amazing that banks are allowing money from a terrorist nations. It shows you how corrupt some of these banks can get. And those banks deal with banks here in the United States.

[Jet Jaguar]

It is. But, other peoples money can pull a profit.

[garbageseeker]

Thats true.

[Toidylop]

The N. Korea had dealt with VN Banks in the past under something they called trade (a joke!!!), North Korea and Vietnam sign banking pact to boost trade. These two are government sanctioned criminal enterprises to launder money for terrorists and drugs.

[Rightwing Conspiratr1]

I hope these banks aren't dumb enough to accept U.S. currency from the North Koreans.

Wouldn't they be even dumber to accept North Korean currency?