North Korea rejects FATF designation as high-risk state

North Korea has officially condemned and rejected the decision by the Financial Action Task Force (FATF) to designate it as a country subject to countermeasures. The announcement follows a recent FATF meeting held in Paris, France.

The North Korean Foreign Ministry stated that the decision is unfair and violates the sovereignty of the nation. Officials claimed that allegations involving money laundering, terrorism financing, drug trafficking, and counterfeiting are fabricated by the United States and its allies to demonize the country.

North Korea further alleged that the FATF has become an overly politicized organization that serves the hostile policies of the United States. The ministry noted that despite efforts since 2013 to implement domestic legal regulations and increase financial transparency, the FATF continues to label the nation as a high-risk threat to the international financial system.