US slaps additional sanctions on North Korea over 'malicious cyber activity'

The US administration slapped additional penalties on North Korean organisations on Tuesday for allegedly using hackers to collect funds for Pyongyang’s nuclear programmes. The sanctions’ targets “generate revenue by stealing funds from global financial institutions and other entities,” according to Secretary of State Antony Blinken. The North Korean government sends hundreds of computer professionals abroad to participate in “malicious cyber activities that support the… government,” according to a Treasury Department statement. The Pyongyang University of Automation and the Chinyong Information Technology Cooperation Company, which the CIA claims oversee staff deployed to Russia and Laos, were among the four organisations sanctioned. The other two organizations are the Technical Reconnaissance Bureau, an offensive cyber tactics unit which is subordinate to North Korea’s premier intelligence bureau, and the 110th Research Center, which has targeted media and defence companies in South Korea, it said. Also sanctioned was Kim Sang Man, who Treasury said was based in Vladivostok, in Russia’s far east, and served as a paymaster. Blinken said the sanctions were coordinated with South Korea. North Korea “maintains a workforce of thousands of highly skilled IT workers around the world, primarily in the People’s Republic of China and Russia,” the Treasury statement said. The workers often use stolen identities and proxy accounts to apply for jobs at foreign companies, using legitimate employment to shield other activities, it said. The Treasury statement cited a UN report in March that said North Korean hackers “stole more virtual currency in 2022 than in any previous year, with estimates ranging from $630 million to over $1 billion – reportedly doubling Pyongyang’s total cyber theft proceeds in 2021.” North Korean hackers rose to prominence in 2014 with their alleged role in the hack of Sony Pictures in retaliation for the release of a satirical movie, “The Interview,” that made fun of North Korean leader Kim Jong Un. The US administration will continue to combat North Korea’s “continued efforts to steal money from financial institutions, virtual currency exchanges, companies, and private individuals around the world,” said Brian Nelson, Treasury undersecretary for terrorism and financial intelligence. Read all the  Latest News,  Trending News,  Cricket News,  Bollywood News, India News and  Entertainment News here. Follow us on  Facebook,  Twitter and  Instagram.