U.S. Sanctions Hit Companies Linked To North Korea Cyber Funding Network

The United States imposed sanctions on six individuals and two companies accused of helping North Korea run a global scheme that used remote IT workers to generate money for its weapons programs, reported by CBS News.

According to the U.S. Treasury Department’s Office of Foreign Assets Control, North Korean operatives allegedly posed as legitimate technology professionals to secure remote jobs at foreign companies. The workers reportedly used stolen identities, forged documents, and fake online profiles.

Treasury officials said the wages earned through these positions were largely funneled back to Pyongyang to support its nuclear weapons and ballistic missile development. U.S. authorities estimate the scheme generated nearly $800 million in 2024 alone.

The sanctions targeted networks connected to North Korea, Vietnam, Laos, and Spain. Among those named were Amnokgang Technology Development Company and Vietnamese executive Nguyen Quang Viet.

Under the sanctions, any U.S. assets tied to the designated individuals and entities are frozen and Americans are barred from conducting business with them.

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