Connect with us

Hi, what are you looking for?

Economy

US, S. Korea issue sanctions vs NK over ‘illicit’ IT workforce

WASHINGTON — The United States and South Korea on Tuesday announced new North Korea sanctions related to thousands of IT workers, many operating in China and Russia, whose labors allegedly help fund weapons of mass destruction and missile programs, they said.

One individual, Kim Sang Man, and the North Korea-based Chinyong Information Technology Cooperation Company were sanctioned jointly by the United States and South Korea in relation to their IT worker activities, US Treasury Department said.

South Korea’s foreign ministry separately announced new sanctions on seven individuals and three entities, including Kim and the IT company, Chinyong.

North Korea (NK) oversees thousands of IT workers around the world, primarily located in China and Russia, Treasury said. These workers “generate revenue that contributes to its unlawful WMD and ballistic missile programs.”

The workers hide their identities, locations, and nationalities and use forged documentation to apply for jobs, it said. They have secretly worked in a variety of positions and industries, including the fields of “business, health and fitness, social networking, sports, entertainment, and lifestyle,” the Treasury Department said.

In the past, the US State Department has warned that hiring North Korean IT workers could also lead to incidents of intellectual property theft.

Three other groups — the 110th Research Center, Pyongyang University of Automation and Technical Reconnaissance Bureau — had been previously sanctioned by South Korea for engaging in cyber operations and illicit revenue generation that support North Korea’s weapons of mass destruction programs, Treasury said.

“Today’s action continues to highlight (North Korea’s) extensive illicit cyber and IT worker operations, which finance the regime’s unlawful weapons of mass destruction and ballistic missile programs,” Brian Nelson, Under Secretary of the Treasury for Terrorism and Financial Intelligence, said in a statement.

South Korea’s foreign ministry said the latest announcement demonstrates joint efforts with the US to block North Korea’s malicious revenue generation through illicit cyber activities.

In its announcement, the Treasury Department noted that the Technical Reconnaissance Bureau currently leads North Korea’s offensive cyber efforts and oversees staff affiliated with the infamous Lazarus hacking group.

Lazarus has been accused of carrying out some of the largest virtual currency heist to date. In March 2022, for example, they allegedly stole about $620 million in virtual currency from a blockchain project linked to the online game Axie Infinity. — Reuters

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

SEOUL/TOKYO — Japan on Monday put its ballistic missile defenses on alert and warned that it would shoot down any projectile that threatened its...

Economy

WASHINGTON — US President Joseph R. Biden on Sunday finalized a budget agreement with House Speaker Kevin McCarthy to suspend the $31.4-trillion debt ceiling...

Economy

MILAN — The waters in Venice’s main canal turned fluorescent green on Sunday in the area near the Rialto bridge and authorities are seeking...

Economy

ANKARA — President Tayyip Erdogan extended his two decades in power in elections on Sunday, winning a mandate to pursue increasingly authoritarian policies which...

Economy

CAGAYAN Valley pride Jan Clifford Labog shocked heavy favorite International Master Michael Concio, Jr. yesterday to seize a share of the lead with his...

Economy

Games Today (Ynares Sports Arena) 5 p.m. — Blackwater vs Terrafirma 7:30 p.m. — Converge vs Magnolia SHORT in numbers but not in heart,...

You May Also Like

Investing

Almost 100 jobs are thought to be under threat at smart home energy technology manufacturer myenergi. The Grimsby firm, named one of the UK’s...

Economy

THE MARCOS administration’s plan to revive the Philippine Sugar Corp. (PHILSUCOR) has raised concerns from stakeholders, who said this may duplicate other agencies’ existing...

Economy

By Luisa Maria Jacinta C. Jocson, Reporter EL NIÑO may weigh on Philippine economic growth this year, as the agriculture sector is vulnerable to...

Economy

By Kyle Aristophere T. Atienza, Reporter AROUND eight out of 1,000 Filipinos are “modern slaves,” according to a global index that tracked populations’ vulnerability...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.