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U.S. and North Korea end talks on financial no-no's
The United States and North Korea ended a fourth round of talks on Tuesday that aim to teach Pyongyang that counterfeiting, money-laundering and secrecy are not tolerated in the global financial system.The United States has accused the reclusive Communist state of such illicit activities but the talks are part of a thawing in U.S.-North Korean ties since Pyongyang agreed to abandon its nuclear arms programs. The discussions follow the resolution earlier this year of a long-running dispute over about $25 million in North Korean funds held in tainted accounts at Macau's Banco Delta Asia bank. "There are concerns about compliance with international standards relating to money laundering, relating to counterfeiting, relating to transparency," said Dan Glaser, the U.S. Treasury's deputy assistant secretary for terrorist financing and financial crimes, who led the U.S. delegation. "These are things the international financial community expects of all of members and our goal within this group is to work with our North Korean counterparts to put them in a position where they can comply with those standards," he said. Posted by: Fred 2007-11-21 |
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