A Macau bank accused by the US of laundering money for North Korea has agreed to dissolve all links with the communist state.
The US Treasury said Banco Delta Asia had acted as a “willing pawn” for North Korea to channel money through Macau.
Macau’s authorities took control of the bank last year after the fraud claims led to a run on its deposits. Customers withdrew 10% of total deposits after the allegations surfaced.
Officials said the bank would end ties with North Korean clients and tighten its anti-money laundering procedures.
