The Treasury Department designates individuals, banks, and companies accused of laundering money for North Korea’s weapons and cyber operations.
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned eight individuals and two organizations allegedly involved in laundering illicit funds that support North Korea’s weapons development. According to the Treasury, these sanctions respond to cyberattacks, cryptocurrency theft, and fraudulent information technology work conducted by networks connected to the Democratic People’s Republic of Korea (DPRK).
“North Korean state-sponsored hackers steal and launder money to fund the regime’s nuclear weapons program,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence John Hurley. “By generating revenue for Pyongyang’s weapons development, these actors directly threaten U.S. and global security. The Treasury will continue to pursue the facilitators and enablers behind these schemes to cut off the DPRK’s illicit revenue streams.”
Those sanctioned include DPRK bankers, information technology company executives, and representatives of North Korean financial institutions operating in China and Russia. The designations block all U.S. assets linked to the named persons and prohibit American individuals or businesses from engaging in transactions with them.
As the Lord Leads, Pray with Us…
- For Under Secretary Hurley to seek God’s guidance as he oversees the placement of sanctions by the Office of Foreign Assets Control.
- For Secretary Bessent and U.S. Treasury officials as they evaluate methods to prevent money laundering, hacking, cyber attacks, and theft.
Sources: Department of the Treasury
