North Korea said Thursday it is committed to joining global efforts to fight money laundering and the financing of terrorism.

The statement came in response to a recent report by the Financial Action Task Force that accuses Pyongyang of failing to address its "significant deficiencies" in those areas.

In the report, issued at the plenary session in Paris in mid-October, the FATF, a sister organization of the Organization for Economic Cooperation and Development, also called on the international communist to give special attention to business relationships and transactions with North Korea, including its companies and financial institutions.

Pyongyang claimed the report is a "sinister attempt of hostile forces to tighten the financial sanctions" against the communist nation.

"The contents of the report are based on misinformation contrary to facts and, therefore, it doesn't deserve even a passing note," the North's foreign ministry said, according to its official news agency, KCNA.

"By origin, the DPRK (North Korea) does not allow such practices as money laundering and financing of terrorism in the light of the nature of its social system." (Yonhap News)