News / / 08.20.20

Bloomberg: Congo Bank May Be Breaking North Korea Sanctions, Group Says

The Democratic Republic of Congo unit of Cameroon’s Afriland First Bank Group may be violating sanctions by providing banking services to a North Korea-linked statue-building company, a U.S.-based anti-corruption group said.

Congo Aconde Sarl, which holds accounts at Afriland, installed two statues in the Congolese city of Kamina in 2018, according to Washington, D.C.-based The Sentry. The installations may have violated United Nations sanctions against statue-building by North Korean companies, while Afriland may have breached U.S. sanctions by linking a company owned by North Korean individuals to the U.S. financial system by allowing it to trade in dollars, it said…

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