Financial Times FT.com

North Korea

US to finalise sanctions on Macao bank

By Demetri Sevastopulo in Washington and Tom Mitchell in Hong Kong

Published: March 13 2007 23:38 | Last updated: March 14 2007 04:06

The US Treasury will ban American banks on Wednesday from dealing with Banco Delta Asia, after an investigation concluded that the Macao bank had helped North Korea launder money.

In 2005, the Bush administration accused Banco Delta Asia, a family-run bank, of being a “willing pawn” in North Korean efforts to launder money from drug trafficking and counterfeiting.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this