Bank of China Cuts Off N.Korea Bank Accused of Weapons Dealing
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Bank of China Ltd. closed the account of a North Korean lender accused by the U.S. of facilitating transactions linked to weapons of mass destruction.
North Korea’s Foreign Trade Bank has been notified of the account closure and cessation of all fund transfers related to it, a spokeswoman for Beijing-based Bank of China said by phone today, asking not to be named due to company policy. She didn’t say when or why the account was shut.