Bank of China says it is not tied to illicit funding
Bank of China and two Macau-based banks yesterday denied ties to an illicit funding network for North Korea's nuclear programme.
The denial came after a Wall Street Journal report claimed the banks were being investigated in the United States for possible links to such a network.
Casino mogul Stanley Ho Hung-sun, who controls Seng Heng Bank, one of the banks named in the report, said his businesses had no connections with Pyongyang.
'Macau has no relations with North Korea. The only trace [of any connection] is that many years ago the North Korean government asked me to build a casino in its capital,' he said last night.
Robert McBain, general manager of Seng Heng Bank, said the bank was unaware of any investigation. 'We have regular compliance reviews from the Macau Monetary Authority. We have no North Korean accounts. We have no business with any North Korean company. We have no knowledge of any investigation or that we are under any scrutiny.'