[USFK Forums] North's Illicit China Accounts Found [Dong-A]

[C. Y. Lee]

Uploaded by C. Y. Lee on Tuesday, February 28, 2006

North’s Illicit China Accounts Found

FEBRUARY 28, 2006 02:59by Jung-Ahn Kim (credo@donga.com¡¤)

Bank accounts linked to North Korean counterfeiting operations and tobacco trafficking were discovered for the first time in Hong Kong, according to the South China Morning Post Sunday.

The paper reported that the U.S. government plans to confiscate $2.67 million from bank accounts in Hong Kong linked to North Korean counterfeiting and tobacco trafficking.

According to the paper, three accounts opened in a subsidiary of the Bank of China’s Hong Kong headquarters under the name of a Chinese woman have been frozen. The U.S. Justice Department will soon launch legal procedures to confiscate the accounts.

The woman, who is known to have moved from China to Hong Kong, was questioned but not arrested.

The paper also said that accounts for sophisticated North Korean counterfeit bills in the open banking system of Hong Kong have been found for the first time. The paper went on to say that the U.S. found these accounts in Hong Kong after a long-term, planned investigation underway since 2002.

The U.S. has accused North Korea of counterfeiting $100 bills to raise funds for its nuclear program.


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[Mr. Joe]

Wow! What a surprise! Not to me. I'm sure the US Secret Service is working in all major cities, looking for the counterfeit cash. Good.