North Korea has turned to a Singapore bank for financial transactions after its money in Macau was frozen by US sanctions, South Korea's Donga Ilbo newspaper reported on Saturday, citing a source in Washington.
Washington threatened Banco Delta Asia in Macau with sanctions for allegedly helping Pyongyang launder money and pass counterfeit dollars, and at least $20 million belonging to North was frozen.
The state-owned Bank of China has also frozen North Korean-related assets at its Macau branch, US officials have said.
Now a small retail bank in Singapore that is believed to be handling North Korea's funds, is under US investigation, Donga said, citing a US government official.
It did not provide the bank's name but said it was on the US government's watch list.
North Korea denies involvement in money laundering and counterfeiting US currency.