Australia imposed financial sanctions and travel bans on four entities and one individual over allegedly engaging in cybercrime to support and fund North Korea’s weapons of mass destruction and ballistic missile programs.
In a statement, Foreign Minister Penny Wong said the decision was taken in light of evidence that North Korean-linked cyber actors were involved in large-scale cryptocurrency theft, fraudulent IT work, and espionage to evade sanctions and finance the country’s weapons activities.
Citing a report of the Multilateral Sanctions Monitoring Team, which oversees the enforcement of UN sanctions on North Korea, Wong said it found that North Korean hackers stole at least $1.9 billion in cryptocurrency globally in 2024 while using a global network of North Korean nationals and foreign facilitators to launder stolen digital assets.
“The Australia Government is taking this action with the United States to apply pressure on North Korea’s illegal revenue generation networks and address its persistent challenges to security and stability,” she said.
The US Treasury Department also imposed sanctions on eight individuals and two entities for their involvement in laundering funds from “illicit schemes” conducted by North Korea, including cybercrime and overseas IT worker exploitation.
US sanctions North Korea trading company, individuals for IT worker schemes
