U.S. Targets North Korean Cyber Money-Laundering Network
The U.S. Treasury Department sanctioned eight individuals and two entities involved in North Korea's cyber-related money-laundering schemes. This move aims to cut off funding for the country's weapons programs and associated illicit activities, threatening global security. North Korean bankers and companies were implicated.
The United States Treasury Department announced sanctions against eight individuals and two entities accused of engaging in North Korean cyber-related money-laundering activities.
This effort is part of a broader strategy to halt funding for North Korea's weapons programs, which pose a threat to international security, according to John Hurley, Treasury's undersecretary for terrorism and financial intelligence.
The sanctions target facilitators behind these schemes, including North Korean bankers and a company that reportedly employed Chinese nationals to disguise the origin of funds. The Treasury also named North Korea’s Ryujong Credit Bank for aiding in sanctions avoidance.
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