The US Treasury sanctioned Shenyang Geumpungri Network Technology Co and Sinjin Trading Corporation for funneling over $1 million to North Korean IT workers using fake salaries and thefts. The State Department noted cooperation from the Japanese and South Korean governments in the action. The US will seize funds routed through these companies and hold parties doing business with them, or subsidiaries more than 50 percent owned, liable for criminal and civil action. Sanctions also named Kim Ung Sun, a Russia-based North Korean economic and trade consular official, and Vitaliy Sergeyevich Andreyev, accused of masterminding the scam. OFAC previously targeted Chinese facilitators and the US pursued recovery of millions tied to similar fraud schemes.
The North Korean regime continues to target American businesses through fraud schemes involving its overseas IT workers, who steal data and demand ransom,
Under President Trump, Treasury is committed to protecting Americans from these schemes and holding the guilty accountable.
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