The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned four entities, including two individuals and a Chinese front company, for their roles in a fraudulent information technology worker scheme orchestrated by the Democratic People’s Republic of Korea (DPRK) government.
Under Secretary of the Treasury John K. Hurley stated that the North Korean regime continues to target American businesses through fraud schemes involving its overseas IT workers, who steal data and demand ransom. The sanctions expand on previous actions taken by OFAC to stop the DPRK’s IT worker schemes.
The DPRK uses IT workers to generate revenue for its illicit weapons of mass destruction and ballistic missile programs. These workers typically use fraudulent documents and false personas to infiltrate legitimate companies, including in the US and allied countries.
OFAC has designated an IT worker network consisting of a DPRK-based trading company, a Chinese front company, and two individuals who provided financial assistance to generate revenue for the DPRK regime. The sanctions prohibit transactions with entities owned or controlled by blocked persons and impose civil or criminal penalties on violators.
The ultimate goal of sanctions is not punishment, but to bring about positive change in behavior. OFAC will remove persons from the Specially Designated Nationals and Blocked Persons List consistent with the law.
Source: https://home.treasury.gov/news/press-releases/sb0230