The U.S. Treasury’s Office of Foreign Assets Control announced sanctions on eight people and two entities in North Korea connected to laundering the proceeds from cyber activity and information technology worker schemes. The action was detailed in a Treasury release published on November 4 and targets channels that have moved stolen digital assets and contractor income through dollar rails, raising compliance risk for exchanges, brokers, custodians, and wallet providers that might touch those funds. The ...

The U.S. Treasury has imposed fresh sanctions on a group of North Korean bankers and institutions accused of laundering millions in cryptocurrency tied to cyberattacks and illicit IT work schemes that help fund Pyongyang’s weapons programs. The Office of Foreign Assets Control (OFAC) said Tuesday that eight individuals and two entities were designated for “laundering funds derived from cybercrime and information technology worker fraud,” including proceeds linked to ransomware and crypto thefts. “North K ...