North Korea condemns financial task force decision to keep it on crime blacklist

North Korea ‌on Friday ​condemned as politically motivated a decision by the Financial Action Task Force to retain ‌it as a high-risk jurisdiction subject to countermeasures.

In a statement carried by state media KCNA, the foreign ministry accused the global financial ‌watchdog of serving the US policy of hostility toward North Korea. Allegations ‌of money laundering, terrorist financing, drug trafficking and counterfeiting “have nothing to do with” North Korea and were fabricated by the US and its allies to ⁠demonize the ​country, the ⁠ministry said.

The Paris-based FATF said on October 30 that it was keeping North ⁠Korea on its list of high-risk countries for the sixteenth consecutive year. North ​Korea continued to have "significant deficiencies" in combating money laundering and ⁠terrorist financing, while its illicit activities posed serious risks related to the ⁠financing of ​weapons of mass destruction, FATF said in a statement.

The financial crimes watchdog urged countries to end correspondent relationships with ⁠North Korean banks, close their branches and subsidiaries, and limit financial transactions ⁠and business relationships ⁠with North Korean individuals. North Korea, Iran and Myanmar remain on the FATF list, commonly known as ‌its ‌blacklist.