In brief
On 5 November, North Korea issued a scathing rebuke of the Financial Action Task Force (FATF), which reaffirmed the country’s place on its high‑risk jurisdiction list, citing persistent deficiencies in its safeguards against illicit finance. The Korean foreign ministry rejected any implication of money‑laundering or terrorism involvement, labeling the FATF a politicised body serving U.S. interests. Meanwhile the FATF reiterated its concerns over Pyongyang’s continued shortfalls and its illicit activities linked to weapons of mass destruction.
On Friday, 5 November, North Korea condemned the Financial Action Task Force (FATF) for maintaining the Democratic People’s Republic of Korea on its high‑risk jurisdiction list, saying the watchdog’s decision was a politically‑motivated effort by the United States.
The Korean foreign ministry’s spokesperson said the FATF’s designation “encroached upon the dignity, rights and interests of the sovereign state,” adding that “money laundering, financing of terrorism, drug trafficking and counterfeiting have nothing to do with the DPRK.”
The spokesperson labeled the FATF a politicised conspiracy group and declared the DPRK would never tolerate actions that infringe its rights.
In the FATF’s statement, the watchdog said it remains concerned by Pyongyang’s “continued failure to address the significant deficiencies” in its defenses against money laundering and terrorist financing, and by the “serious threats” posed by its illicit activities tied to weapons of mass destruction.
The FATF maintained the high‑risk label for North Korea, placing it in the same top‑risk category as Iran and Myanmar, a stance that has been in place since 2011.
Only Yonhap reported that the FATF continues to maintain its warning citing persistent shortcomings in Pyongyang’s safeguards against illicit finance, a detail absent from other sources.
