US Imposes Sanctions on Four North Korean Entities, One Individual Over Cybercrime
New Sanctions Target North Korea’s Malicious Cyber Activities
The US Department of Treasury has imposed sanctions on four North Korean entities and one individual for their involvement in cybercrime activities that have generated millions of dollars for the Democratic People’s Republic of Korea (DPRK).
Sanctioned Entities
- Pyongyang University of Automation: This entity is linked to the development of offensive cybersecurity tactics and tools.
- Technical Reconnaissance Bureau: A key entity responsible for North Korea’s malicious cyber activities, including high-profile attacks on government agencies and financial institutions worldwide.
- 110th Research Center: Linked to several high-profile cyberattacks, including a campaign known as DarkSeoul that destroyed thousands of financial sector systems and resulted in outages at top media companies in South Korea.
- Chinyong Information Technology Cooperation Company: Associated with the UN and US-sanctioned Ministry of Peoples’ Armed Forces, employing delegations of DPRK IT workers operating in Russia and Laos.
Accused Individual
- Kim Sang Man: A representative of Chinyong Information Technology Cooperation Company accused of involvement in the sale and transfer of IT equipment for the DPRK and receiving cryptocurrency funds transfers valued at over $2 million.
Objectives of the Sanctions
The sanctions are aimed at targeting North Korea’s illicit activities that generate revenue for its government, including:
- Cybercrime
- Money laundering
- Sale of IT equipment
Response from Experts
The sanctions have been welcomed by experts who see them as an important step towards holding North Korea accountable for its malicious activities.
However, some critics have argued that the sanctions may not be effective in curbing North Korea’s illicit activities due to the country’s limited economic resources and reliance on cybercrime to generate revenue.