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(Malaysian Mirror) KUALA LUMPUR - Malaysia has called on the United States to produce evidence on media allegations that a Malaysian bank is involved in weapons payments to North Korea.

Reports from South Korea have said that North Korea sought payment through an unnamed Malaysian bank for a suspected shipment of weapons bound for Myanmar, which was being tracked by the US Navy.

As a US envoy on sanctions against North Korea flew into Kuala Lumpur, Malaysian Foreign Minister Anifah Aman said the government "does not condone" money laundering and was willing to cooperate to prevent illegal payments.

Anifah: Give us the info

"If America has any information that is available to them, then I think they should give it to us so we can act upon it," he told a news conference when asked about the allegations on North Korean payments.

"We are not going to act on every accusation that is being levelled at us because that is virtually impossible. If they have evidence we will be most willing to work together to solve the problem."

Anifah's comments came as Philip Goldberg, the US State Department's envoy on coordinating implementation of sanctions against North Korea over its May nuclear test, held talks with Malaysian banking and government officials.

Read more at: Paying for weapons in NKorea: Is a M'sian bank involved?

Comments (13)

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written by batsman, July 07, 2009 11:18:59

Malaysia boleh

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written by Hakim Joe, July 07, 2009 11:34:39

Is a Malaysian bank involved? Well, the chances are certainly there. Here is the list of foreign banks operating in Myanmar.

1. Arab Bangladesh Bank
2. Bangkok Bank
3. Banque Nationale De Paris
4. Credit Agricole Indosuez
5. Credit Lyonnais
6. Dai-Ichi Kangyo Bank Ltd
7. First Commercial Bank
8. First Overseas Bank Ltd
9. Krung Thai Bank
10. Malayan Banking Berhad
11. Mizuho Corporate Bank
12. Natexis Banque
13. Overseas-Chinese Banking Corporation
14. Public Bank Berhad
15. Standard Chartered Bank
16. Sumitomo Mitsui Banking Corp
17. The Bank Of Tokyo Mitsubishi Ltd.
18. The Development Bank Of Singapore
19. UFJ Bank Ltd

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written by chrisyong, July 07, 2009 11:47:00

Does Malaysia has good governance? Do we have a smart foreign minister who can speak with knowledge and does not live in denial? I have doubts that he knows what he is talking about and what challenges are ahead of him and what is expected of him.

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written by ksauyong, July 07, 2009 12:00:59

This Anifah response is typical of UMNO practices. Always ask for information or report when any wrongdoing affects them. When that is given, a perfunctory investigation is conducted, and then our Gani Patel will issue the famous phrase 'No further action'.
For the sake of our country and children's future, investigate quickly, even before you are spoon-fed any information.

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written by MalaysianFirst, July 07, 2009 12:02:59

Honestly, it is really not difficult to accept the possibility that we have become an unwitting tool (fool is probably the better word), knowing the idiot that we are, always claiming that we know best when we can't tell our left foot from our right most of the time. Stupid bank.

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written by Sutha, July 07, 2009 13:09:35

Malaysian Government will outrightly deny the allegation. After that ask for evidence. Then will discover the allegation to be true. Why deny in the first instance without looking at the evidence at all? This happens all the time.

Strange Country, Strange Leaders, Strange Politics. Strange Approach!

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written by NSTPravda, July 07, 2009 13:26:12

Frankly, we don't care Anifah what the US think. We will do business with Anifahking one we like, even korea, from aniware.. Anifahking duit is good, as long as it is anfahking cash!

Rasuah sayang eh!

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written by ladasiber, July 07, 2009 13:28:32

Somebody might get blown off. Any C4 missing somewhere?

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written by mountainking, July 07, 2009 14:20:02

the Malaysian banks don't necessary need to have an operation in North Korea.

The malaysian banks can appoint agent banks to settle in a currency that will escape from US embargo.

eg;

Malaysian bank (Paying or Receiving) -> European Bank (Agent) -> European Bank (Agent) -> N. Korean Bank (Paying or Receiving)


the money transfer will be either settled in Europe or Asia without having operations. This is international banking and transactions mah .........


My take in this case:

N.Korea sold the weapon to Myanmar and Myanmar will pay through a bank network they have with singapore and through Malaysia and through europe. N. Korea bank should have a foreign currency account in another country.

welcome to the world of NOSTRO and VOSTRO account maintained by banks with banks.


Anifah, don't understand banking system, please call Zeti to ask about international payment flow. She is able to brief you.

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written by mountainking, July 07, 2009 14:36:35

Another possible flow:


Myanmar Bank (Maintain EUR account) -> European Bank (Myanmar Bank Agent) -> European Bank (Malaysia Bank Agent) -> Malaysian Bank -> European Bank (Malaysia Bank Agent) -> European Bank (N.Korea Bank Agent) -> N.Korea Bank


Maybe US govt can subpoena SWIFT to provide all transactional payment messages or their TRADE messages to track the said payment/trade.


Anifah, please talk to SWIFT to provide the evidence. If you are not too sure what is SWIFT, please ask Zeti.

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written by MalaysianFirst, July 07, 2009 15:33:49

SWIFT has its limitations as it only discloses only banking parameters such as which account the funds came from and which account its going into on a bank to bank basis. Nothing more.

Extra due diligence is required to find out where is the source of funds and the purpose of the transaction. No matter how many banks are involved in receiving or paying, the bank/s will have to reveal why its receiving such a large amount of funds (presumably in the multi-millions) and documents must be there to authenticate, verify and validate the transaction.

Nothing can escape the bank/s' vision unless they don't want to see.

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written by Trueandfair, July 07, 2009 15:51:16

Malaysian Govt has been accused by many countires, mostly its neighbours of all sorts of shady dealings eg: Thailand (accuse Malysia of supporting separatists in suthern Thailand); Phillipines (Malaysia of supporting MILF in Mindanao), Indonesia (supporting Free ACheh movement), Sri Lanka (support Tiger Elam), Iran (Scomi of supplying uranium enrinchment centrifugal components), Iraq (Pak Lah oil-money case), ... now NORTH KOREA - big deal ... been there, seen it, done it !! USA should start getting worried when Malaysia supplies Scorpene submarines, MIG and Sukhoi fighter jets to .... highest bidder please; don't forget MY comission ...

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written by allmenarebrothers, July 07, 2009 17:53:59

The problem with Any Fart is that he is so dumb about international payments systems that he would not know what to ask!
He is "blur blur" most of the time!

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