Main Menu

Namibian bank used to launder North Korean money

By Eliaser Ndeyanale and Patience Nyangove
A Namibian commercial bank was al­legedly used by North Korea to laun­der undisclosed amounts of money, by using a diplomat stationed at its embassy in South Africa, who has links to the Korea Min­ing Development Corporation (KOMID), a United Nations report has revealed.
The 111-page mid-term report, by a UN panel of experts, details new ways that North Korea skirts sanctions, including through vi­olations of an arms embargo, “particularly in Africa and the Middle East”.
The Namibian bank was not named in the report.

FOR FULL STORY GET A HARD COPY

Comments

comments