The Golden Star Bank was North Korea (DPRK)'s last bank in Europe. [1]
The Golden Star Bank was North Korea (DPRK)'s last bank in Europe. [1]
It was established in 1982, located in Vienna, Austria, and owned by Taesong Bank. [2] In 2003, the Austrian Interior Ministry released a report that claimed that the bank was engaging in espionage, "money-laundering, the distribution of forged currency and illegal trade with radioactive substances." [3] [4] The bank was closed in June 2004 amid suspicions of money laundering and the funding of North Korean arms, although there was not enough evidence to start a criminal trial. [1]
Nordea Bank Abp, commonly referred to as Nordea, is a Nordic financial services group operating in northern Europe with headquarters in Helsinki, Finland. The name is a blend of the words "Nordic" and "idea". The bank is the result of the successive mergers and acquisitions of the Finnish, Swedish, Danish, and Norwegian banks of Merita Bank, Nordbanken, Unidanmark, and Christiania Bank og Kreditkasse that took place between 1997 and 2001. The Nordic countries are considered Nordea's home market, having finalised the sales of their Polish bank in 2014, Baltic operations in 2019 and completed the exit from Russia in early 2022 following a 2019 decision to close the business there. Nordea is listed on Nasdaq Nordic exchanges in Helsinki, Copenhagen, and Stockholm and Nordea ADR is listed in the US.
The ING Group is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services. With total assets of US$967.8 billion, it is one of the biggest banks in the world, and consistently ranks among the largest banks globally.
The South Korean won is the official currency of South Korea. A single won is divided into 100 jeon, the monetary subunit. The jeon is no longer used for everyday transactions, and it appears only in foreign exchange rates. The currency is issued by the Bank of Korea, based in the capital city of Seoul.
HSBC Holdings plc, acronym from its founding member The Hongkong and Shanghai Banking Corporation, is a British universal bank and financial services group headquartered in London, England, with historical and business links to East Asia and a multinational footprint. It is the largest Europe-based bank by total assets, ahead of BNP Paribas, with US$2.953 trillion as of December 2021. In 2021, HSBC had $10.8 trillion in assets under custody (AUC) and $4.9 trillion in assets under administration (AUA).
Standard Chartered plc is a British multinational bank with operations in consumer, corporate and institutional banking, and treasury services. Despite being headquartered in the United Kingdom, it does not conduct retail banking in the UK, and around 90% of its profits come from Asia, Africa, and the Middle East.
A superdollar is a very high quality counterfeit United States one hundred-dollar bill, alleged by the U.S. government to have been made by unknown organizations or governments. In 2011, government sources stated that these counterfeit bills were in "worldwide circulation" from the late 1980s until at least July 2000 in an extradition court case.
Shanghai Pudong Development Bank Co. Ltd is a state-owned joint-stock commercial bank, established in 1993, with its headquarters located in Shanghai.
The Asia–Europe Meeting (ASEM) is an Asian–European political dialogue forum to enhance relations and various forms of cooperation between its partners. It was officially established on 1 March 1996 at the 1st ASEM Summit (ASEM1) in Bangkok, Thailand, by the then 15 Member States of the European Union (EU) and the European Commission, the then 7 Member States of the Association of Southeast Asian Nations (ASEAN), and the individual countries of China, Japan, and South Korea. A series of enlargements saw additional EU Member States join as well as India, Mongolia, Pakistan and the ASEAN Secretariat in 2008, Australia, New Zealand and Russia in 2010, Bangladesh, Norway, and Switzerland in 2012, as well as Croatia, and Kazakhstan in 2014.
The Financial Action Task Force (on Money Laundering) ('FATF, aka "Fatfee"), also known by its French name, Groupe d'action financière (GAFI), is an intergovernmental organisation founded in 1989 on the initiative of the G7 to develop policies to combat money laundering and to maintain certain interest. In 2001, its mandate was expanded to include terrorism financing.
In the United States, Know Your Customer (KYC) guidelines and regulations in financial services require professionals to verify the identity, suitability, and risks involved with maintaining a business relationship with a customer. The procedures fit within the broader scope of anti-money laundering (AML) and counter terrorism financing (CTF) regulations.
Delta Asia Financial Group is a Macau-based bank owned by the Delta Asia Financial Group and founded in 1935 by Au Wing Ngok, father of Stanley Au, the current chairman and majority shareholder. It is the 10th largest bank in Macau with eight branches and 150 employees.
Raiffeisen Zentralbank Österreich A.G. (RZB) was a significant bank in Austria and the central institution of the Raiffeisen Banking Group (RBG) until its merger into its subsidiary Raiffeisen Bank International (RBI) in 2017.
Amsterdam Trade Bank (ATB) was a commercial bank registered in The Netherlands between 1994 and 2022. The bank focused on providing trade financing for companies wishing to do business in former Soviet states.
Wachovia was a diversified financial services company based in Charlotte, North Carolina. Before its acquisition by Wells Fargo and Company in 2008, Wachovia was the fourth-largest bank holding company in the United States, based on total assets. Wachovia provided a broad range of banking, asset management, wealth management, and corporate and investment banking products and services. At its height, it was one of the largest providers of financial services in the United States, operating financial centers in 21 states and Washington, D.C., with locations from Connecticut to Florida and west to California. Wachovia provided global services through more than 40 offices around the world.
ABLV Bank was one of the largest private banks in the Baltic States, headquartered in Riga, Latvia with representative offices abroad from 1993 to 2018.
Asia Wealth Bank was a Myanmar bank that was found to be of primary money laundering concern by the US Secretary of Treasury. The bank license was subsequently revoked by the Government of Myanmar in the banking crisis in 2003. The bank is a sister company of the former Olympic Construction Group which is renamed as Shwe Taung Group in 2004 after the banking scandal.
Shwe Taung Group of Companies is a Myanmar conglomerate. It has a large construction and engineering arm and is the parent company of a cement business in Myanmar. It also own Octagon International Service Trading which is the importer of machinery and construction vehicles.
Austria has a well-developed institutional and legal system, and most corruption cases under investigation by a parliamentary committee end with judicial trials and effective judgments. However, there are several significant Austrian corruption cases which have taken place during the past decade involving land and regional officials, high-level public officials, the central government and, in one instance, the former Chancellor.
The alleged illicit activities of the North Korean state include manufacture and sale of illegal drugs, the manufacture and sale of counterfeit consumer goods, human trafficking, arms trafficking, wildlife trafficking, counterfeiting currency, terrorism, and other areas. It is alleged many of these activities are undertaken at the direction and under the control of the North Korean government and the ruling Workers' Party of Korea, with their proceeds going towards advancing the country's nuclear and conventional arms production, funding the lifestyles of the country's elite, and propping up the North Korean economy.
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