North Korea slams int'l watchdog over high-risk money-laundering list

SEOUL, November 6 (AJP) - North Korea on Friday condemned an international watchdog for keeping the country on its list of high-risk countries for money laundering, accusing the body of serving Washington's hostile policy toward Pyongyang.

In a statement carried by the state-run [North] Korean Central News Agency (KCNA), a North Korean Foreign Ministry spokesman described the country's inclusion on the list as an infringement on the "dignity, rights and interests of a sovereign state."

The spokesman rejected allegations of money laundering, drug trafficking and counterfeiting, claiming they were fabricated by the U.S. and its allies to harm North Korea.

The denunciation follows the Financial Action Task Force (FATF)'s decision at a plenary meeting in Paris in late October to keep North Korea on its list of "jurisdictions subject to a call for action" along with Iran and Myanmar.

The list identifies countries with serious shortcomings in their efforts to prevent financial crimes and enables the FATF to urge other countries to take additional precautions when conducting financial transactions with them.

The FATF said it "remains concerned by the [North's] continued failure to address the significant deficiencies in its anti-money laundering" as well as serious threats posed by North Korea's "illicit activities related to the proliferation of weapons of mass destruction (WMDs) and its financing."

North Korea has been on the list for 16 consecutive years since 2011.