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Bank of America Drops Ties with North Korea After FATF Listing: Official
By Brian Monroe
printBank of America has cut its ties to North Korea after the nation topped an intergovernmental blacklist of countries with poor anti-money laundering regimes, according to a bank compliance official. The Charlotte, NC company made the policy change based on the Feb. 18 list published by the Financial Action Task Force (FATF), according to William Fox, senior vice president for Bank of America's global anti-money laundering division. Fox disclosed the decision Monday during a panel at the 15th Annual International Anti-Money Laundering Conference in Hollywood, FL. The bank "took a policy position and decided to completely" halt relations and transactions...
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