North Korea's link to Malaysian Banks

From: SpikeNib
Date: Sat, 4 Jul 2009 06:43:05 -0700 (PDT)
Local: Sat, Jul 4 2009 9:43 pm
Subject: CENSORED in Malaysia's whore papers?

N.K. using Malaysian bank to deal weapons with Myanmar

North Korea sought payment through a bank in Malaysia for its
suspected shipment of weapons to Myanmar that is being carried on a
freighter tracked by the U.S. Navy, a source said Saturday, according
to Yonhap News.

The visit by a U.S. envoy to Malaysia this weekend will focus on ways
to cut off the payment transaction for the cargo from the bank in
Malaysia to North Korean leader Kim Jong-il, the source said.

"Kim will have a hard time collecting his money," the high-level
source said, speaking strictly on condition of anonymity. The source
declined to identify the bank due to diplomatic concerns.

Philip Goldberg, the U.S. coordinator for the implementation of a U.N.
Security Council resolution that punishes North Korea for its May 25
nuclear test, is scheduled to arrive in Malaysia on Sunday.

The visit comes after the White House said late last month that U.S.
President Barack Obama discussed North Korea and financial regulations
with Malaysia's Prime Minister Najib Razak on by phone.

It also comes as North Korea's Kang Nam freighter is apparently
returning home after being tracked by a U.S. Navy destroyer that
suspects it is carrying cargo banned under the resolution.

Resolution 1874, which reinforced sanctions that were imposed after
North Korea conducted its first nuclear test in 2006, bans Pyongyang
from exporting any type of weapons -- light or heavy.

According to another source in Seoul, the Kang Nam is believed to be
carrying small Soviet-era arms such as AK-47 rifles and RPG-7 anti-
tank launchers.

AK-47s and RPG-7s are two of the most widely traded Soviet-era weapon
types that North Korea is capable of producing on its own.

"Kim appears to have received earnest money for the shipment, but it
is a small sum compared to the payment held up in Malaysia," the
source said.

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