Treasury Official in Talks with North Korea Over Banco Delta Asia Sanctions

By Matt Squire and Brian Orsak

Daniel Glaser met with North Korean officials for three hours today to discuss U.S. financial sanctions against the Asian nation and a Macau bank. The talks, which are scheduled to resume Wednesday in Beijing, focused on North Korea's alleged involvement in counterfeiting and its efforts to launder money through Banco Delta Asia, Treasury spokeswoman Molly Millerwise said in an e-mail. The Macau government seized Banco Delta Asia and froze its $24 million in assets after the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) designated the bank a money laundering concern in September 2005. Banco Delta Asia facilitated money laundering of...