U.S. Department of Treasury Sanctions North Korean IT Workers, Fraud Network Personnel, and Related Entities

SmartContractAuditor · 2026-03-13T03:24:23+00:00

The U.S. Department of Treasury imposed sanctions on 6 individuals and 2 entities for their alleged involvement in a North Korean IT worker fraud scheme, with proceeds used to fund North Korean weapons programs. The sanctioned entities include companies in North Korea and Vietnam, along with related individuals, with their U.S. assets frozen and transactions with the U.S. restricted.

SmartContractAuditor

2026-03-13 03:24:23

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Odaily Planet Daily News: The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions against 6 individuals and 2 entities, accusing them of participating in an IT worker fraud scheme orchestrated by North Korea. The proceeds from this scheme are used to fund North Korea’s weapons programs.

The sanctioned entities include North Korean company Amnokgang Technology Development Company and Vietnamese company Quangvietdnbg International Services Company Limited, whose CEO Nguyen Quang Viet is accused of laundering $2.5 million through cryptocurrency for the network. Do Phi Khanh, Hoang Van Nguyen, Yun Song Guk, Hoang Minh Quang, and York Louis Celestino Herrera are also sanctioned for their alleged involvement in the network. The fraud network operates in North Korea, Vietnam, Laos, and Spain.

The sanctions freeze all assets of the listed individuals and entities in the U.S. and prohibit any financial transactions or business dealings with them. OFAC also listed 21 cryptocurrency addresses on the Ethereum and Tron networks for sanctions. Chainalysis states that the North Korean IT worker fraud scheme relies on stolen and fictitious identities to obtain positions in global companies and may implant malware in company networks to steal sensitive information.

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