N. Korea lambasts money-laundering watchdog over renewed 'high-risk' label
North Korea on Friday denounced the intergovernmental anti-money laundering body for keeping Pyongyang on its blacklist, claiming the agency serves the United States' hostile policy toward it. At a meeting in Paris in late October, the Financial Action Task Force (FATF) decided to keep the North on its list of a "high-risk jurisdiction subject to a call for action." The designation applies to…
North Korea has harshly criticized the international anti-money laundering organization, the Financial Action Task Force (FATF), for maintaining Pyongyang on its blacklist of high-risk jurisdictions. According to a statement released by the North's Foreign Ministry, the decision serves the United States' hostile policy towards the country.
In late October, during a meeting in Paris, the FATF decided to retain North Korea on its list of high-risk jurisdictions, which requires the nation to take action to prevent money laundering, terrorist financing, and weapons proliferation. The designation applies to countries with serious shortcomings in combating these illicit activities.
The official spokesperson for the Democratic People's Republic of Korea (DPRK), North Korea's official name, expressed strong displeasure over the FATF's actions, alleging that the organization violates the dignity, rights, and interests of a sovereign state. The ministry spokesperson stated that the accusations of money laundering, terrorism financing, drug trafficking, and counterfeiting have no basis in reality for North Korea.
The spokesperson further accused the FATF of transforming into a "conspiracy group" and an "extremely politicized organization" serving the United States' hostile agenda.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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