The United States announced yesterday sanctions against two individuals and an entity based in the United Arab Emirates, alleging their involvement in a money laundering ring.
The network has been accused of laundering millions of dollars from IT workers and cybercrime activities, the proceeds of which ultimately serve to support the North Korean government.
According to a statement from the US Treasury Department, the two sanctioned individuals operated through a front company based in the United Arab Emirates, providing money laundering and crypto conversion services that funneled illicit funds back to Pyongyang.
The Treasury Department stated that this action is part of Washington's ongoing efforts to disrupt funding for North Korea's weapons of mass destruction and ballistic missile programs.