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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (760270)	3/14/2007 4:33:13 PM
From: DuckTapeSunroof	Respond to of 769670

U.S. says Banco Delta Asia did business for North Korea: Macau bank isolated over money laundering By Robert Schroeder, MarketWatch Last Update: 1:37 PM ET Mar 14, 2007 marketwatch.com WASHINGTON (MarketWatch) -- The Treasury Department halted Macau-based Banco Delta Asia's access to the U.S. financial system on Wednesday in connection with alleged money laundering for North Korea. U.S. banks and other financial institutions will be prohibited from opening or maintaining accounts for the bank, which U.S. and Macau authorities have been probing for 18 months. The U.S. alleges the bank helped North Korea's trade in counterfeit U.S. currency, cigarettes and narcotics. A U.S. investigation also found that front companies laundered money through the bank and linked the bank to entities facilitating the proliferation of weapons of mass destruction. "The deceptive financial practices and grossly inadequate controls within BDA have run too deep for us to ignore," said Stuart Levey, Treasury's undersecretary for terrorism and financial intelligence, in a statement. Treasury first raised concerns about Banco Delta Asia in September 2005, calling it a "willing pawn" of the North Korean regime. Formerly a Portugese colony, Macau returned to Chinese territory in 1999 as a special administrative region.