All news with #ofac tag

US Sanctions Southeast Asian Cyber Scam Networks, $10B Theft

🚨 The U.S. Department of the Treasury has designated multiple cyber fraud networks in Burma and Cambodia that stole more than $10 billion from Americans, according to OFAC. The operations are linked to forced labor, human trafficking, and violent coercion and ran diverse scams from romance baiting to fake cryptocurrency schemes. The sanctions freeze U.S.-based assets and bar transactions with Americans, tightening these actors' access to international finance and platforms.

U.S. Sanctions Network Supporting North Korean IT Workers

🔒 The U.S. Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned two individuals and two companies tied to a North Korean IT worker network that embeds personnel in foreign firms using stolen or fabricated identities and "laptop farms" to disguise locations. Designations include Russian national Vitaliy Sergeyevich Andreyev and DPRK consular official Kim Ung Sun, plus Chinese front Shenyang Geumpungri Network Technology Co., Ltd and DPRK-linked Korea Sinjin Trading Corporation. Blockchain intelligence firm Chainalysis identified Andreyev’s Bitcoin wallet as a laundering conduit, tied to nearly $600,000 in conversions. The sanctions freeze U.S.-based assets, bar American persons from transacting with the designees, and signal heightened targeting of infrastructure and crypto facilitators who help the DPRK monetize overseas IT labor.