U.S. Treasury sanctions North Korean IT workers and organizations… “Earned $800 million via digital assets”
Summary
- The U.S. Department of the Treasury said it will designate six individuals and two entities for sanctions for supporting North Korea through digital-asset transactions.
- It explained that the individuals secured remote jobs at U.S. companies and then used money laundering to channel funds to North Korea’s weapons of mass destruction (WMD) programs.
- OFAC said it plans to continue working with allies to disrupt North Korea’s hard-currency-earning networks.
Forecast Trend Report by Period
The U.S. Department of the Treasury has placed on its sanctions list individuals and entities that have financed North Korea through digital-asset transactions and other means.
On the 13th (Korea time), the Treasury’s Office of Foreign Assets Control (OFAC) said it is designating six individuals and two entities for supporting overseas remote employment and money-laundering activities by North Korean IT personnel. The Treasury explained that they secured remote jobs at U.S. companies and then used money laundering to channel funds to North Korea’s weapons of mass destruction (WMD) programs.
The designations also include brokers operating in North Korea, Vietnam, Laos and Spain who facilitated employment and the movement of funds for North Korean IT personnel.
OFAC said it plans to continue working with allies to disrupt North Korea’s hard-currency-earning networks.
Uk Jin
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