Weekly Roundup: France May Use Stolen HSBC Data for Tax Investigations, North Korea Opens New Bank, and More

As the United States and Europe continue to press China to support new sanctions against Iran, North Korea has launched a bank to circumvent international trade and financial prohibitions against it. On Wednesday, the communist country opened a new national bank as part of an attempt to attract foreign investments, according to the Agence France Presse. The financial institution, set up on the orders of leader Kim Jong-Il, will have "advanced banking rules and system for transactions with international monetary organizations and commercial banks," AFP wrote, quoting the Korean Central News Agency. The launch of the bank is the country's...