N. Korea wants U.S. bank to handle funds

Source: Associated Press

N. Korea wants U.S. bank to handle funds

By William Foreman, Associated Press Writer | May 8, 2007

HONG KONG --North Korea has asked for permission to use
an American bank to transfer its funds out of a blacklisted
Macau lender accused of helping the North launder money
and handle counterfeit currency, an official said Tuesday.

The North Koreans want to use an American bank because
they think the transaction would help secure their continued
access to the global financial system, the official, who is
familiar with the matter, told The Associated Press.

"The North Koreans' real intentions are finally coming to
the surface," said the official, who asked not to be named
because he wasn't authorized to speak on the record to
the media.

Pyongyang made the request in the middle of last week,
and the U.S. Treasury Department was expected to make
a decision as early as Thursday, the official said.

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Read more: http://www.boston.com/news/world/asia/articles/2007/05/08/nkorea_let_us_use_us_bank