U.S. Treasury Department's Office of Foreign Assets Control Imposes Sanctions on Individuals and Entities Assisting North Korean IT Programs

TechubNews · 2026-03-13T09:32:40+00:00

The U.S. Department of the Treasury imposed sanctions on six individuals and two entities for assisting North Korea's IT worker program, which helped generate nearly $800 million in revenue for its weapons of mass destruction program. These operators forged U.S. business records and utilized cryptocurrency for money laundering. The assets of the sanctioned individuals and entities are frozen in the United States and must be reported to the Treasury Department.

TechubNews

2026-03-13 09:32:40

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Techub News reports that the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on six individuals and two entities for playing a significant role in assisting North Korea’s IT worker program. The program generated nearly $800 million in 2024 for North Korea’s weapons of mass destruction efforts.

According to the U.S. Treasury statement, the sanctions target operators stationed in North Korea, Vietnam, Laos, and Spain, who have committed fraud by forging remote employment records of U.S. companies and using cryptocurrency for money laundering. The statement notes that Nguyen Quang Viet, a Vietnamese executive involved as an accomplice, converted about $2.5 million into cryptocurrency for North Korean personnel between mid-2023 and mid-2025, including illicit proceeds linked to the sanctioned entity Amnokgang Technology. Another statement added multiple crypto addresses from various blockchain networks to its “Specially Designated Nationals” list. Three Ethereum addresses and four TRON addresses associated with Amnokgang Technology have been listed. The sanctions freeze all assets and property interests of these individuals within the United States, and they must report to the OFAC. Violators face civil or criminal penalties.

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