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U.S. slap against bank stuns foreign business in N. Korea.
Byline: Ralph Jennings
Sep. 19--BEIJING -- A U.S. Treasury condemnation of the bank through which North Korea does most transactions with foreign companies could set back foreign trade with a country just beginning to open its markets, business people said Monday.
The U.S. Department of the Treasury finding on Thursday that Macao-registered Banco Delta Asia SARL was a "primary money laundering concern" and proposal to ban U.S. financial institutions from doing business with it could freeze some U.S. dollar accounts or force foreign-North Korean transactions underground, they said.
Companies that work with North Korea and have U.S. banking ...
- In Brief: Bank Called 'Willing Pawn' of North Korea.(Banco Delta Asia a...
- Magazine article from: American Banker Mullins, Luke September 19, 2005 700+ words
The Treasury Department has designated Banco Delta Asia SARL as a "primary money-laundering concern" and issued...than 20 years, the department said Thursday. "Banco Delta Asia has been a willing pawn for the North Korean government...
- Seoul, Washington see different 'right kind' of sanctions on North Korea.
- News wire article from: YON - Yonhap News Agency of Korea September 20, 2006 700+ words
...comprehensive approach" to entice North Korea back to the six-party dialogue...accused of laundering money for North Korea. Banco Delta Asia (BDA) froze some US$24 million in North Korea-related assets after it was...
- (LEAD) Macau-based Chinese bank named money launderer for North Korea.
- News wire article from: YON - Yonhap News Agency of Korea September 15, 2005 700+ words
...laundering "pawn" for North Korea. Banco Delta Asia SARL, located and...has been servicing North Korea for more than 20 years...designated entity. North Korea has long been suspected...Jong-il. "Banco Delta Asia has been a willing...
- Under bank sanctions, North Korea looks to gold exports; America's envoy on...
- Newspaper article from: The Christian Science Monitor January 22, 2007 700+ words
...however, is whether North Korea can navigate around...dealing with Banco Delta Asia in Macao, the...order against Banco Delta Asia, through which North Korea exported gold prior...the ban on Banco Delta Asia. North Korea raised hopes for...
- NORTH KOREA THIS WEEK NO. 428 (December 21, 2006)*** TOPIC OF THE WEEK.
- News wire article from: YON - Yonhap News Agency of Korea December 22, 2006 700+ words
...As expected from the outset, North Korea declared on Dec. 18, the opening...said they would never recognize North Korea as a nuclear power. The North...in North Korean funds at Banco Delta Asia. North Korea is also under U.N. financial...
- EDITORIAL: It's North Korea's move.(Editorial)
- Newspaper article from: Japan Times (Tokyo, Japan) June 19, 2007 700+ words
...announced that $ 25 million in North Korea-linked funds frozen at Banco Delta Asia in Macau would be released...impasse in the talks. But North Korea insisted that the funds be...be transferred from Banco Delta Asia to a North Korean account...
- US, NORTH KOREA HOLD FIRST BILATERAL MEETING AT NUCLEAR TALKS.
- News wire article from: AsiaPulse News March 21, 2007 700+ words
...the six nations - South and North Korea, the U.S., Japan, China...Monday that the issue of North Korea's frozen funds at Banco Delta Asia has been resolved following...account at a Chinese bank. But North Korea said the issue will be resolved...
- North Korea sells gold to earn currency.
- Newspaper article from: Yomiuri Shimbun (Toyko, Japan) December 26, 2006 700+ words
...government froze North Korea-related accounts...based Banco Delta Asia. After that...addition to Banco Delta Asia, many North Korea-related accounts...Financial Times, North Korea sold large amounts...bullion to Banco Delta Asia until last ...
