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Article: In Brief: Bank Called 'Willing Pawn' of North Korea.(Banco Delta Asia a money-laundering concern)(Brief Article)
- Article from:
- American Banker
- Article date:
- September 19, 2005
- Author:
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The Treasury Department has designated Banco Delta Asia SARL as a "primary money-laundering concern" and issued a proposal that would bar domestic institutions from doing business with the Chinese bank.
The bank, which maintains correspondent accounts in the United States, Europe, and Canada, has provided financial services to the North Korean government and its front companies for more than 20 years, the department said Thursday.
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