All news with #it worker fraud tag

U.S. Sanctions 10 North Korean Financial and IT Facilitators

🛡️ The U.S. Treasury on Tuesday sanctioned eight individuals and two entities tied to North Korea's global financial network for laundering proceeds from cybercrime and fraudulent IT-worker schemes. The list names Jang Kuk Chol and Ho Jong Son, linked to $5.3 million in cryptocurrency managed for First Credit Bank, as well as Korea Mangyongdae Computer Technology Company (KMCTC), its president U Yong Su, and Ryujong Credit Bank. Treasury said the funds help finance Pyongyang's weapons and cyber programs, while blockchain firm TRM Labs reported sustained crypto inflows indicative of salary-routing activity.