North Korea removed as observer from Asia Pacific Group on money laundering: Report

By Necva Tastan Sevinc

ISTANBUL (AA) - North Korea has been expelled from its observer role in the Asia Pacific Group on Money Laundering (APG) due to its prolonged inactivity and failure to meet the group's obligations, South Korea's foreign ministry announced Monday.

The decision, made unanimously during the APG's 26th general assembly last Tuesday in the United Arab Emirates, came after repeated warnings to Pyongyang, Seoul-based Yonhap News Agency reported.

Established in 1997, the APG focuses on implementing international standards against money laundering, as well as countering the financing of terrorism and the proliferation of weapons of mass destruction.

North Korea, which has held observer status in the group since July 2014, has not participated in any APG activities for the last six years.

The APG said that Pyongyang had ignored repeated requests for engagement, leading to its disqualification.

As part of its obligations, an observer state must allow visits by APG delegations and submit reports on anti-money laundering measures, among other responsibilities.

The APG includes 42 member states, such as the US, Japan, and China, with South Korea joining in 1998.

North Korea's expulsion underscores its increasing isolation on the global stage, particularly regarding financial oversight and cooperation.