The US Treasury Department has imposed sanctions on North Korean bankers connected to cybercrime and IT worker fraud schemes. These sanctions target individuals involved in laundering proceeds from cyber-enabled thefts and fraudulent activities that exploit IT workers. The move highlights ongoing efforts by the US government to disrupt North Korean financial networks that support malicious cyber operations. The sanctioned bankers are accused of facilitating the transfer of stolen funds obtained through various cybercrimes, including ransomware attacks and fraudulent IT worker recruitment scams. This action is part of a broader strategy to combat North Korea's use of cybercrime as a means to evade sanctions and generate revenue. The Treasury's Office of Foreign Assets Control (OFAC) continues to identify and penalize entities and individuals that play a role in North Korea's illicit cyber activities, aiming to cut off their access to the global financial system. The sanctions serve as a warning to other actors involved in similar schemes and reinforce the international community's commitment to countering cyber-enabled financial crimes. This development underscores the critical intersection of cybersecurity, international finance, and law enforcement in addressing state-sponsored cyber threats and protecting global economic stability.
This Cyber News was published on www.bleepingcomputer.com. Publication date: Wed, 05 Nov 2025 10:35:19 +0000