Financial Times FT.com

Macao bank cuts ties with N Korea

By Justine Lau in Hong Kong and Anna Fifield in Seoul

Published: February 17 2006 01:00 | Last updated: February 17 2006 01:00

Banco Delta Asia, a Macao bank accused of laundering money for North Korea, yesterday said it had cut all ties with the Communist state and urged Washington to withdraw proposals that would restrict the bank?s business with US lenders.

The bank has also instituted tough procedures to allay US fears that it  is enabling North Korea to distribute counterfeit dollars as well as launder money earned by the illicit trading of narcotics and weapons of mass destruction. 

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