The United States has imposed new sanctions related to North Korea, the press service of the Treasury Department reports.
According to the report, the restrictions apply to eight individuals and two organisations for their involvement in laundering funds derived from various illegal schemes of the DPRK, including cybercrime and information technology (IT) fraud.
Korea Mangyongdae Computer Technology Corp. and Ryujong Credit Bank of North Korea were hit by the sanctions.
“North Korean state-sponsored hackers steal and launder money to fund the regime’s nuclear weapons programme. By generating revenue for Pyongyang’s weapons development, these individuals directly threaten U.S. and global security. The Treasury Department will continue to pursue the middlemen and individuals behind these schemes to cut off the DPRK’s illicit sources of revenue,” Treasury Undersecretary for Counterterrorism and Financial Intelligence John C. Gurley said.
The US Treasury Department adds that as a result of today’s action, all property and ownership interests of designated persons located in the US or in the possession or control of US persons are blocked. In addition, any entities owned, directly or indirectly, individually or in the aggregate, by 50 per cent or more of the sub-sanctioned persons are also blocked.
Financial institutions and other persons who engage in certain transactions or activities with sanctioned entities and persons may also be subject to sanctions.