News

U.S. Looking to Resolve Dispute with North Korea Over Macau Bank

By Matt Squire

The U.S. Treasury Department is close to resolving a dispute with North Korea over accounts frozen at a Macau bank, a Treasury official said. Treasury officials, who began talks with North Korea last month about its alleged involvement in counterfeiting and laundering through Banco Delta Asia, have collected enough information to resolve their disagreement with the bank quickly, Daniel Glaser, a Treasury Department assistant secretary, said Tuesday. The Macau government seized Banco Delta Asia and froze its $24 million in assets after it was designated a primary money laundering concern by the United States in September 2005. North Korea, which...

TO READ THE FULL STORY