Why did North Korea criticize the FATF after it retained the country on its high-risk list?

A Foreign Ministry spokesperson accused the FATF of encroaching on the dignity, rights and interests of a sovereign state and described it as a politicized organization serving what Pyongyang called U.S. hostile policy. The spokesperson also denied that money laundering, terrorist financing, drug trafficking and counterfeiting had anything to do with North Korea.

How long has the FATF classified North Korea as a high-risk jurisdiction, and which countries share its top risk category?

The FATF has categorized North Korea as a high-risk jurisdiction since 2011. It kept North Korea in its top risk category alongside Iran and Myanmar.

N. Korea lambasts money-laundering watchdog over renewed 'high-risk' label

Q: What concerns did the FATF cite in keeping North Korea in its highest risk category?

The FATF said North Korea had continued to fail to address significant deficiencies in its defenses against money laundering and terrorist financing. It also cited serious threats from illicit activities related to weapons of mass destruction.

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Summary

North Korea denounced the Financial Action Task Force (FATF) on Friday after the watchdog retained it on its high-risk list, accusing the organization of serving U.S. policy toward Pyongyang. The FATF made the decision at a meeting in Paris in late October, keeping North Korea in the top risk category alongside Iran and Myanmar. The watchdog cited continuing deficiencies in North Korea’s defenses against money laundering and terrorist financing, as well as threats linked to weapons of mass destruction. The FATF has categorized North Korea as high-risk since 2011.

Key Facts

The FATF’s designation covers jurisdictions with serious failings in preventing money laundering, terrorist financing and weapons proliferation.
A North Korean Foreign Ministry spokesperson said money laundering, terrorist financing, drug trafficking and counterfeiting had nothing to do with the country.
The ministry said North Korea would not tolerate attempts to infringe on the state’s dignity, rights and interests.
The FATF works under the Organization for Economic Cooperation and Development.

By Yonhap

Published Nov 6, 2026 8:36 am KST

A North Korean flag flies on a mast at the Permanent Mission of North Korea in Geneva, Oct. 2, 2014. Reuters-Yonhap

North Korea on Friday denounced the intergovernmental anti-money laundering body for keeping Pyongyang on its blacklist, claiming the agency serves the United States' hostile policy toward it.

At a meeting in Paris in late October, the Financial Action Task Force (FATF) decided to keep the North on its list of a "high-risk jurisdiction subject to a call for action."

The designation applies to countries with serious failings in preventing money laundering, terrorist financing and weapons proliferation.

"The Foreign Ministry of the DPRK expresses strong displeasure" over the FATF's practice of "encroaching upon the dignity, rights and interests of a sovereign state," a ministry spokesperson said in a statement carried by the Korean Central News Agency (KCNA).

DPRK stands for the Democratic People's Republic of Korea, the North's official name.

"'Money laundering,' 'financing of terrorism,' 'drug trafficking' and 'counterfeiting' have nothing to do with the DPRK," the official said.

"The FATF has turned into a conspiracy group and an extremely politicized organization serving the U.S. hostile policy toward the DPRK," it said, adding the North "will never tolerate the slightest attempt to infringe upon the dignity, rights and interests of the state."

The FATF maintained North Korea in its top risk category, alongside Iran and Myanmar.

On its website, the watchdog said it remains concerned by Pyongyang's "continued failure to address the significant deficiencies" in its defense against money laundering and terrorist financing, and by the "serious threats" posed by its illicit activities tied to weapons of mass destruction.

The task force, which works under the Organization for Economic Cooperation and Development, has categorized North Korea as a "high-risk jurisdiction" since 2011.

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