BoC links to Pyongyang under probe

Bank of China and Macau banks Banco Delta Alto SARL and Seng Hang are being investigated by US officials over their links to North Korea's illicit trades in narcotics, counterfeit US currency and fake cigarettes, the Wall Street Journal reported. Tough sanctions are likely if the banks are found to have inappropriate links to Pyongyang. Bank of China is due to launch its IPO in 2006.