OFAC
US sanctions North Korean bankers linked to cybercrime, IT worker fraud
The U.S. Treasury Department imposed sanctions on two North Korean financial institutions and eight individuals involved in laundering cryptocurrency stolen in cybercrime and fraudulent IT worker schemes. The Treasury’s Office of Foreign Assets Control (OFAC) designated Ryujong Credit Bank, a North Korea-based financial institution linked to sanctions-evasion activities between North Korea and China, including money laundering. OFAC […]
Alleged Chinese hacker tied to Silk Typhoon arrested for cyberespionage
A Chinese national was arrested in Milan, Italy, last week for allegedly being linked to the state-sponsored Silk Typhoon hacking group, which responsible for cyberattacks against American organizations and government agencies. According to Italian media ANSA, the 33-year-old man, Xu Zewei, was arrested at Milan’s Malpensa Airport on July 3rd after arriving on a flight from […]
Chinese hackers targeted sanctions office in Treasury attack
Chinese state-backed hackers have reportedly breached the Office of Foreign Assets Control (OFAC), a Treasury Department office that administers and enforces trade and economic sanctions programs. OFAC was created in December 1950, blocking all Chinese and North Korean assets under U.S. jurisdiction after China entered the Korean War. In a letter sent to Congress this […]