G8 finmins back steps against N.Korea, Iran

LECCE, Italy (Reuters) - Finance ministers of the Group of Eight wealthy countries are committed to taking financial steps against North Korea and support measures against Iran to protect the financial system, they said on Saturday.

"We are committed to the effective and timely implementation of financial measures against North Korea as set out ... in UN Security Council resolution N. 1874," ministers said in the statement issued after their meeting.

"We endorse the FATF's call for countries to protect the financial system from illicit financing and implement counter-measures against Iran, in particular to mitigate the risk posed by correspondent relationships with Iranian institutions," the statement added.

The 34-nation Financial Action Task Force (FATF) is an international anti-money-laundering body.