Golden Star Bank

The Golden Star Bank was North Korea's last bank in Europe.[1]



It was established in 1982, located in Vienna, Austria, and owned by Taesong Bank.[2] In 2003, the Austrian Interior Ministry released a report that claimed that the bank was engaging in espionage, "money-laundering, the distribution of forged currency and illegal trade with radioactive substances."[3][4] The bank was closed in June 2004 amid suspicions of money laundering and the funding of North Korean arms, although there was not enough evidence to start a criminal trial.[1] In a diplomatic cable that was later leaked on WikiLeaks, the United States Secretary of State expressed concerns that North Korea might be seeking to construct a replacement for the Golden Star Bank in Switzerland.[5]

See alsoEdit


  1. ^ a b "N Korea's only bank in Europe to close". The Sydney Morning Herald. AAP. 2004-04-01. Retrieved 2012-04-17.
  2. ^ Lintner, Bertil (2007-01-18). "North Korea's golden path to security". Asia Times Online. p. 2. Archived from the original on 2007-01-21. Retrieved 2012-04-17.{{cite web}}: CS1 maint: unfit URL (link)
  3. ^ Fitzpatrick, Mark, ed. (2007). Nuclear Black Markets: Pakistan, A.Q. Khan and the rise of proliferation networks. London: International Institute for Strategic Studies. p. 56. ISBN 978-0-86079-201-7. Retrieved 2012-04-18.
  4. ^ Leidig, Michael (2003-07-23). "Austria accuses North Korean bank of spying". The Daily Telegraph. Retrieved 2012-04-17.
  5. ^ US Secretary of State (2007-09-05). "07STATE124655". WikiLeaks. Retrieved 2012-04-18.

Coordinates: 48°11′51″N 16°20′29″E / 48.19750°N 16.34139°E / 48.19750; 16.34139