Examples of Banco Delta Asia in a sentence
GMI is prohibited from conducting business with the following entities (“Section 311 entities”): Banco Delta Asia; VEF Banka; Commercial Bank of Syria; Syrian Lebanese Commercial Bank; Myanmar Mayflower Bank; Asia Wealth Bank; Any Burmese banking institution, including foreign branches; and any subsidiaries of the above entities.
Treasury Designates Banco Delta Asia as Primary Money Laundering Concern under USA Patriot Act.
The U.S. has accused Banco Delta Asia of accepting and circulating DPRK origin supernotes.
Banco Delta Asia operates eight branches in Macau (including a branch at a casino) and is served by a representative office in Japan.
Pursuant to U.S. regulations issued under Section 311 of the USA PATRIOT Act, 31 CFR 103.193, VAL is prohibited from establishing, maintaining, administering or managing a correspondent account for, or on behalf of: Banco Delta Asia; Bank of Dandong; Burma; Commercial Bank of Syria (Includes Syrian Lebanese Commercial Bank); Democratic People’s Republic of Korea; FBME Bank Ltd.; Halawi Exchange Co.; Islamic Republic of Iran; and Kassem Rmeiti & Co. For Exchange.
All notices of meetings with stockholders shall be in writing and shall be sent or otherwise given in accordance with Section 2.5 of these bylaws not less than ten (10) nor more than sixty (60) days before the date of the meeting to each stockholder entitled to vote at such meeting.
For purposes of complying with the final rule’s prohibition on the opening or maintaining in the United States of correspondent accounts for, or on behalf of, Banco Delta Asia, we expect a covered financial institution to take such steps that a reasonable and prudent financial institution would take to protect itself from loan or other fraud or loss based on misidentification of a person’s status.
The exclusion from the U.S. financial system of banks such as Banco Delta Asia that serve as conduits for significant money laundering activity and that participate in other financial crime enhances U.S. national security by making it more difficult for criminals to access the substantial resources and services of the U.S. financial system.
After the issuance of the Notice of Proposed Rulemaking, however, the government of Macau did indicate its concern with illicit money flows into Banco Delta Asia by freezing accounts believed to be associated with illicit North Korean-related activity.
Email: jmcgtokyo@yahoo.comThis article was completed near the end of June 2007 when reports appeared of US and Russian officials working together to transfer North Korea’s long inactive funds out of its accounts at Macau-based Banco Delta Asia (BDA) to different North Korean accounts via a bank in Russia’s far east.