The U.S. announced new sanctions on North Korean bankers on Tuesday, seeking to disrupt the regime’s ability to launder funds from cybercrime and fraudulent information technology (IT) worker schemes.
The designations target eight individuals and two entities operating in China and Russia that have facilitated millions of dollars in illicit transactions, the Treasury Department’s Office of Foreign Assets Control (OFAC) said in a press release.
Highlighting Pyongyang’s increasing reliance on cybercrime and the use of IT workers to earn foreign currency, the Treasury and the State Department warned of the danger posed by illicit finance networks supporting North Korea’s