From Yahoo: South Korean bank joins US sanctions against North Korea

Korea Exchange Bank, controlled by US equity fund Lone Star, has terminated all transactions with Banco Delta Asia, accused by Washington of laundering money for North Korea. The bank is the first South Korean financial institution to join US-imposed sanctions against the Macau-based bank… “This is a voluntary decision and there were absolutely no orders from the South Korean financial authorities or Lone Star…” (emphasis added)

While the South Korean National Intelligence Service (NIS) is busy telling their legislator that North Korea hasn’t engaged in counterfeiting since 1998, the Korea Exchange Bank decides to apply sanctions? Banks don’t do that for no reason – and note it was not directed by the U.S. entity – except that they suspect a real problem. NIS is denying it, but those that deal with cash are taking action. This is just another indication that the NIS is cooking their intel on this issue, ‘well done,’ I think.