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Luxembourg to help track N.Korean bank accounts
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Posted by CFO WOrld
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vendredi, 30 juillet 2010 |
 Luxembourg has promised to cooperate with UN and U.S. financial sanctions against North Korea, Radio Free Asia reported Wednesday.
A spokesman for Luxembourg's Finance Ministry told RFA that the country is closely watching for any illegal activities by the North using offshore accounts and will take "appropriate legal steps" if it finds them.
He claimed Luxembourg regularly updates domestic laws in accordance with international norms to monitor and punish those involved in illegal activities.
The country is committed to implementing sanctions against the North under UN Security Council Resolution 1874, he added.
In March, the Daily Telegraph said North Korean leader Kim Jong-il has a US$4 billion slush fund stashed away abroad in case he has to flee the North. Kim's operatives "withdrew the money -- in cash, in order not to leave a paper trail -- and transferred it to banks in Luxembourg," it said. (...)
> End of the article on The Chosun IIbo
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