U.S. sanctioned North Korea bankers for laundering funds linked to cyberattacks and peapons program

On 5 November 2025, the U.S. Treasury Department sanctioned two North Korean financial institutions and eight individuals accused of laundering funds from cybercrime to support the DPRK’s weapons programmes. According to the U.S. Treasury, these illicit activities have helped finance North Korea’s nuclear weapons and ballistic missile programmes, with North Korea-linked actors having stolen over $3 billion in digital assets in the past three years.

The sanctions target Ryujong Credit Bank and Korea Mangyongdae Computer Technology Company (KMCTC) and its president, as well as two bankers, Jang Kuk Chol and Ho Chong Son, for allegedly managing ransomware-linked funds and evading sanctions via China and Russia. Five additional North Korean representatives in Russia and China were designated for enabling illicit transactions worth tens of millions of dollars.

All assets of sanctioned individuals in the U.S. or under U.S. control are frozen, and U.S. persons are barred from transactions involving them unless authorised.