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Money-laundering watchdog: Close North Korean banks

February 23, 2018 8:31 PM
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PARIS – The watchdog that monitors global and illicit misuse of funds has cited North Korea as a top source of "ongoing and substantial" money laundering and terrorist financing and urged countries to close North Korean banks.

The Financial Action Task Force said in its report Friday after a plenary session that North Korea has failed to address "significant deficiencies" in its system to combat the ills that pose a risk to the international financial system. It also expressed concern over illicit activities linked to the...

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