NKorea slams US for money launderer label

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SEOUL: North Korea hit back at the United States on Sunday for labeling it a money-laundering state, describing it as a “nonsensical” effort that only revealed the flaws of existing sanctions pushed by Washington. The US on Wednesday branded Pyongyang a “global money laundering concern”, aiming to lock the impoverished by nuclear-armed country out of the world financial system. The move would prevent both direct and indirect North Korean financial activities within the US banking network, ensuring that any third-party deals involving significant sums of US dollar or other currencies cannot transit the US. But the North’s National Coordination Committee for Anti-Money Laundering and Countering Financing of Terrorism slammed the US action as “another illegal act of infringing upon the sovereignty and vital rights” of the country.

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