U.S. urges action on N. Korea counterfeiting

Washington has cracked down on several firms it suspects of involvement in counterfeiting, money laundering and drug trafficking by North Korea, including a Macau-based bank.

“I think everyone recognizes that illicit financial activities are threats to all of our financial systems,” Daniel Glaser, a U.S. Treasury official on anti terrorist financing and financial crimes, told reporters in Tokyo.

Glaser was in Tokyo after travelling to Hong Kong, Macau, Beijing and Seoul to brief officials on U.S. suspicions that Pyongyang had conducted illicit activities such as counterfeiting to help finance its nuclear arms programs. “I think all countries in the region are interested in taking action to make sure that there are no tolerant environments available,” Glaser said after meeting Japanese government officials.

In September, the United States banned American institutions from doing business with Macau-based Banco Delta Asia over allegations it helped launder North Korean funds from drug trafficking and counterfeit goods. A month later, it blacklisted eight North Korean companies on grounds they supported Pyongyang’s nuclear-weapons programs.

Glaser’s Asian tour comes as North Korea is threatening to boycott multilateral talks on ending its nuclear ambitions.

Stressing that the U.S. crackdown on North Korea’s suspected illicit activities was not a “sanction” but a “defensive measure” to protect U.S. financial institutions, Glaser said the issue should not be linked to multilateral talks on ending Pyongyang’s nuclear arms programs.

He said it was not clear how much impact the U.S. actions had on the North Korean economy.

Several analysts have said North Korea was feeling the pinch of the U.S. crackdown on its finances.

Pyongyang has said it would be unthinkable for it to return to six-party nuclear talks when Washington is trying to bring down its rulers with financial sanctions.

On Monday, North Korea demanded that Washington end its “foolish dream” of toppling its leadership by pressure.

The United States has said it will not call off the steps taken to curb illegal financial activities.

Last September, North Korea agreed in principle to scrap its nuclear arms in exchange for aid and security guarantees, but talks have stalled since the six parties — China, Russia, Japan, the United States and North and South Korea — met in November.

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