LETTER TO PRESIDENT OF FATF

Pyongyang, July 16 (KCNA) -- Mr. Kim Chon Gyun, vice-chairman of the DPRK National Coordination Committee for Anti-Money Laundering and Countering the Financing of Terrorism and governor of the Central Bank, sent a letter to Juan Manuel Vega-Serrano, president of the Financial Action Task Force (FATF), on July 13.

The letter said: I have the honor to refer to your predecessor's letter dated June 30, 2016. The letter gives rise to disappointment over the unfair handling by the Financial Action Task Force (FATF) of the question of the Democratic People's Republic of Korea (DPRK), presenting the seriously distorted picture of the reality and thus serving only the interests of specific jurisdictions.

The FATF, alleging that the DPRK is "threatening the integrity of the international financial system" by money laundering and financing of terrorism, is raising an issue of what is called "threat emanating from proliferation of weapons of mass destruction" only to justify its call for "counter-measures" forcing other jurisdictions to terminate all financial transactions with the DPRK.

This is exactly as same as the U.S. scenario in an attempt to isolate and stifle the DPRK by accusing the latter with all sorts of brands such as a "state of money laundering", a "state of human rights violation". As known, the DPRK is actively taking the actions pursuant to the international standards on combating money laundering in close cooperation with the Asia /Pacific Group on Money Laundering (APG) and the Asia/Pacific Regional Review Group (APRRG), which was also appreciated by FATF.

The establishment of the National Coordination Committee for Anti-Money Laundering and Countering the Financing of Terrorism, the adoption of the Law on Anti-Money Laundering and Countering the Financing of Terrorism followed by the entering into the UN Convention against Transnational Organized Crimes, among others, are the results of devoted efforts for intensifying the AML & CFT system of the country in conformity with the International Standards in cooperation with the APG and the APRRG.

As for the issue of proliferation of weapons of mass destruction, our access to nuclear weapons is a self-defensive measure, fair and aboveboard to all intents and purposes, for safeguarding the sovereignty and dignity of the country to counter the heinous hostile policy of the United States on the DPRK, and the DPRK is implementing in a sincere manner as a responsible nuclear weapons state the obligations assumed before the international society for non-proliferation of weapons of mass destruction including nuclear weapons.

If the DPRK's access to nuclear weapons constitutes proliferation of weapons of mass destruction, a question arises with regard to the United States, deploying a number of nuclear weapons in different parts of the world and squandering astronomical amount of money on their modernization even at this time.

The FATF is required to provide a clear answer to this question. The DPRK will continue engaging with the FATF, the APRRG and the APG on basis of its consistent position of combating money laundering and financing of terrorism and proliferation. However, it will be left with no other option but to give consideration to the relations if the FATF remains allowing itself to serve the interests of the United States and certain jurisdictions.