Us lifted sanctions against BDA for 15 years: once accused of money laundering for North Korea

category:Finance
 Us lifted sanctions against BDA for 15 years: once accused of money laundering for North Korea


Screenshot of financial crime enforcement agency statement

According to a document submitted by the financial crime enforcement agency of the United States on September 20, 2005, the financial crime enforcement agency of the United States accused Banco Delta Asia of assisting North Korea in money laundering in 2005, providing financial services for nominal companies engaged in illegal activities in North Korea for more than 20 years and supporting terrorist activities. The U.S. treasury department accordingly asked us financial institutions to cut off the contact with BDA.

However, in 2019, the financial crime enforcement agency of the United States still refused to lift the sanctions again on the grounds of BDAs failure to correct other major defects.

The document also mentioned that in March 2013, BDA filed a lawsuit in the court of Washington, D.C., challenging the relevant investigation and sanctions of the US side. After years of litigation and negotiations, the two sides finally reached an agreement that the financial crime enforcement agency (FCA) agreed to reassess BDA, allow BDA to submit an opinion on the rejection of its application in 2019, and lifted the sanctions for these reasons.

But at the end of the statement, the U.S. financial crime enforcement agency (FCA) proposed that it would re promote the development of relevant rules if it still decided that measures were needed. However, the statement also stipulates that if the US side is to formulate relevant measures, it must disclose all non confidential material basis and allow 30 days for communication.

In a statement, Mr. Au welcomed the U.S. Treasurys decision, saying the decision is an important step both for him and for BDA.. Mr. Au also said he would keep in touch with the financial crime enforcement agency of the United States to try to dispel the doubts of the US side and prove that there is no need for such regulation. According to Hong Kong media, Mr. Au also promised that when the time is ripe, BDA will resume its US dollar settlement business and continue to develop its banking business to serve the people of Hong Kong, Macao and Dawan district. The Hang Seng Bank of Macau, founded by ou Ronge, the father of Qu Zongjie in 1935, is the predecessor of Huiye bank. It has become one of the first batch of major gold merchants in Asia in the 1960s and is now one of the top ten banks in Macao. Within two days after the US side issued a sanction of 300 million yuan. In order to maintain the stable operation of the bank, the government of the Macao Special Administrative Region should request to take over the bank temporarily. In September 2007, after two years of management, the management rights of BDA were returned to the original shareholders. Extended reading review: Gem index down 1.98%, keep stable 2600 airport shipping plate leading the rise, dont pass the blind! The deed tax did not increase the preferential tax rate for buying a house, nor did it cancel TSMCs third-largest semiconductor in the world. Hisilicon, a subsidiary of Huawei, entered the top ten for the first time_ NB12679

In a statement, Mr. Au welcomed the U.S. Treasurys decision, saying the decision is an important step both for him and for BDA.. Mr. Au also said he would keep in touch with the financial crime enforcement agency of the United States to try to dispel the doubts of the US side and prove that there is no need for such regulation.

According to Hong Kong media, Mr. Au also promised that when the time is ripe, BDA will resume its US dollar settlement business and continue to develop its banking business to serve the people of Hong Kong, Macao and Dawan district.

The Hang Seng Bank of Macau, founded by ou Ronge, the father of Qu Zongjie in 1935, is the predecessor of Huiye bank. It has become one of the first batch of major gold merchants in Asia in the 1960s and is now one of the top ten banks in Macao.

Within two days after the US side issued a sanction of 300 million yuan. In order to maintain the stable operation of the bank, the government of the Macao Special Administrative Region should request to take over the bank temporarily. In September 2007, after two years of management, the management rights of BDA were returned to the original shareholders.