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U.S. imposes sanctions on North Korean hacking groups blamed for global attacks

The U.S. Treasury on Friday announced sanctions on three North Korean hacking groups it said were involved in the “WannaCry” ransomware attacks and hacking of international banks and customer accounts. It named the groups as Lazarus Group, Bluenoroff, and Andariel and said they were controlled by the RGB, North Korea’s… Read More

25 countries have formed work group to analyze ABLV Bank’s participation in possible money laundering schemes – Znotina

A work group has been set up of 25 countries to analyze participation of the to-be-liquidated ABLV Bank in possible money laundering schemes, said the Financial Intelligence Unit’s head Ilze Znotina. She said that work on inspecting the list of ABLV Bank’s creditors is very successful. “We have received all… Read More

North Korea exploits UN sanctions loophole to earn foreign currency

North Korea is increasing exports of paintings and wigs to China, in an effort to earn foreign currency by exploiting a U.N. sanctions loophole. While North Korea’s exports to China halved in value on the year in 2018 due to the U.N. sanctions, China represents a record 95.8% of the… Read More

2nd September 2019

U.S. imposes sanctions on people, firms it says helped North Korea evade sanctions

The United States has imposed sanctions on two people and three firms and has identified a blocked ship that it says helped North Korea evade sanctions, the Treasury Department said on Friday. The sanctions target a shipping network that the Treasury Department says engaged in ship-to-ship oil transfers with North… Read More

26th August 2019

North Korea money laundering in Russia puts European banks at risk

Elvira Nabiullina, the governor of the Russian Central Bank, has reportedly been reforming the bank sector and cracking down on financial institutions engaged in illicit behaviour. “Nabiullina’s has made some impressive achievements in cleaning up the banking system, which include better monitoring of large banks and withdrawal of licenses from… Read More

16th August 2019

Latvian bank that accused central bank head to be wound up: ECB

The Latvian lender which accused the country’s central bank head of corruption is failing and will be shut down, European banking authorities said on Thursday. PNB Banka, one of the smallest lenders under ECB supervision with just 550 million euros of assets, has seen “significant deterioration in its capital situation… Read More

15th August 2019

UN probing 35 North Korean cyberattacks in 17 countries

AP — U.N. experts say they are investigating at least 35 instances in 17 countries of North Koreans using cyberattacks to illegally raise money for weapons of mass destruction programs — and they are calling for sanctions against ships providing gasoline and diesel to the country. Last week, The Associated… Read More

6th August 2019

North Korea took $2 billion in cyberattacks to fund weapons program: U.N. report

North Korea has generated an estimated $2 billion for its weapons of mass destruction programs using “widespread and increasingly sophisticated” cyberattacks to steal from banks and cryptocurrency exchanges, according to a confidential U.N. report seen by Reuters on Monday. Pyongyang also “continued to enhance its nuclear and missile programmes although… Read More

31st July 2019

In first, U.S. appeals court upholds contempt fines against three Chinese banks in North Korean sanctions probe

A U.S. appeals court on Tuesday ordered heavy contempt fines to begin against three large Chinese banks locked in a battle over customer financial records with U.S. prosecutors investigating possible North Korean sanctions violations. It remained unclear whether the firms, unnamed in court papers but previously reported to be… Read More

24th July 2019

Chinese company, owner indicted in U.S. on North Korea sanctions charges

A Chinese company, its owner and three managers have been indicted on charges they conspired to evade U.S. sanctions intended to stop North Korean companies from helping Pyongyang develop nuclear weapons and ballistic missiles, the U.S. Department of Justice said on Tuesday. Ma Xiaohong, her company Dandong Hongxiang Industrial Development… Read More

24th July 2019

Leaked documents reveal Huawei’s secret operations to build North Korea’s wireless network

Huawei Technologies Co., the Chinese tech giant embroiled in President Trump’s trade war with China and blacklisted as a national security threat, secretly helped the North Korean government build and maintain the country’s commercial wireless network, according to internal documents obtained by The Washington Post and people familiar with… Read More

17th July 2019

From the Netherlands to North Korea, Kim Jong Un’s Mercedes Take a Long Trip

The Mercedes-Benz limousines seen chauffeuring around North Korean leader Kim Jong Un this year have stumped outsiders over how the sanctions-hit regime obtained the luxury rides. But researchers now believe they have unearthed the Kim regime’s smuggling secret: It takes three cargo jets, about four months and five countries. A… Read More

8th July 2019

Going Dark and Fake Voyages: The Tricks Used to Dodge Trade Sanctions

As the U.S. looks to enforce sanctions aimed at halting trade with states such as Iran and Venezuela, there’s increased scrutiny on the tricks being used to keep commodities flowing to and from blacklisted countries. Ships… Read More

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