North Korea to hold anti-money laundering talks

By Korea Herald
  • Published : Jul 23, 2014 - 19:54
  • Updated : Jul 23, 2014 - 19:54
North Korea will soon hold a meeting with an international organization to discuss measures against money laundering, a news report said Wednesday.

Last week, Pyongyang joined the Asia/Pacific Group on Money Laundering aimed at combating financing for the development of nuclear weapons and terrorist attacks.

The APG is the Asia-Pacific arm of the Financial Action Task Force under the Organization for Economic Cooperation and Development.

The FATF, based in Paris, welcomed North Korea’s move, saying it would help the communist nation bring its anti-money laundering system in line with global standards, according to the Voice of America.

In an email to the VOA, the FATF revealed its plans for North Korea to hold related discussions with its International Co-operation Review Group before the October plenary session, according to the Washington-based U.S. broadcaster.

North Korea gained an observer status at the APG, and it would be eligible for full-fledged member status should it abide by the FATF-set regulations in the next few years.

South Korean officials said the communist nation seems to be seeking to ease U.S.-led financial sanctions against it by reaching out to the APG. (Yonhap)