Jabar Ekspres – The United States (US) is deeply concerned about cybercrime by actors from North Korea and Russia, a top US official said Wednesday (July 19).
Brian Nelson, undersecretary of the treasury for terrorism and financial intelligence, highlighted ongoing US efforts to eradicate illicit cyber activities by North Korean actors that help fund the country’s illegal weapons development programs.
“Obviously, the two state actors that I’m most concerned about are the DPRK and Russia,” Nelson said during a virtual seminar organized by the Center for a New American Security, a Washington-based think tank, referring to North Korea’s official name, the Democratic People’s Republic of Korea.
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“I think… You can see how much they rely on virtual assets to support their weapons of mass destruction program. That’s a significant, very significant, national security issue that I’m working on,” he said, adding.
“Given that, certainly diplomatic engagement with the DPRK is quite challenging. This kind of cutting off of the flow of funds, I think, is important,” he continued.
Led by Nelson, the US Treasury Department’s Bureau of Terrorism and Financial Intelligence has sanctioned dozens of North Korean entities and individuals this year.
“The U.S. and our partners remain committed to combating the DPRK’s illicit fund-raising activities and attempts to steal money from financial institutions, virtual currency exchanges, companies, and private individuals around the world,” Nelson said in May.
The statement was in response to sanctions the Treasury Department imposed on four North Korean entities and one North Korean national for illicit cyber activities in support of North Korea’s weapons programs.
South Korea’s espionage agency said on Wednesday that North Korea stole cryptocurrencies worth a total of US$700 million by 2022.
