Treasury Department Implements Sanctions on North Korean Cyber Groups

Treasury Department Implements Sanctions on North Korean Cyber Groups

The department announced the sanctions Friday after it said that North Korean intelligence groups targeted American critical infrastructure, particularly the financial system.

On Friday, the Treasury Department announced it will implement sanctions targeting three North Korean cyber intelligence groups for targeting U.S. critical infrastructure.

The Office of Foreign Assets Control (OFAC), which is housed within the department, said that the Lazarus Group and two of its subsidiaries, Bluenoroff and Andariel, are responsible for “
“North Korea’s malicious cyber activity” on American agencies. The groups fall underneath the RGB, North Korea’s primary intelligence bureau, the OFAC said in a statement.

“Treasury is taking action against North Korean hacking groups that have been perpetrating cyber attacks to support illicit weapon and missile programs,” Sigal Mandelker, the under secretary for terrorism and financial intelligence, said in a statement. “We will continue to enforce existing U.S. and UN sanctions against North Korea and work with the international community to improve cybersecurity of financial networks.”

In an explanation of the sanctions, the department said that the Lazarus Group was created as early as 2008 to target institutions like the military and the financial, manufacturing, publishing, media and international shipping industries. The U.S. and other countries that were targeted as part of the WannaCry 2.0 ransomware attack in 2017 have long believed that the hacking group carried out the attack.

Now, American citizens and residents are banned from doing business with the cyber groups. Lazarus and its subsidiaries are also blocked from accessing any property within the U.S., according to The Hill.

Altogether, OFAC estimates that the three groups likely stole $571 million in cryptocurrency between January 2017 and September 2018 as part of a government campaign to hack into cryptocurrency exchanges and use the funds for weapons programs. Blueneroff has allegedly attempted to steal about $1.1 billion from banks around the world, including countries like Mexico, India, the Philippines, South Korea, Taiwan, Vietnam and Pakistan.

The agency said that the sanctions are part of its larger plan to combat North Korean cyber threats. OFAC has been working with the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency and the U.S. Cyber Command to better “protect the U.S. financial system and other critical infrastructure” and improve global security, the agency said.

OFAC’s action and another effort to disclose malware samples to private cybersecurity companies are examples of a “government-wide approach to defending and protecting against an increasing North Korean cyber threat,” the statement reads.

Rep. Jim Langevin, who chairs the House Armed Services subcommittee on intelligence and emerging threats and capabilities, applauded the sanctions and said the U.S. must “take action to hold irresponsible states accountable.”

“Malicious cyber actors around the world need to know that they cannot act with impunity and that the United States will use all instruments of national power to counter their activity,” he said in a statement.

About the Author

Haley Samsel is an Associate Content Editor for the Infrastructure Solutions Group at 1105 Media.

Featured

  • AI to Help Resolve Non-Emergency Calls Across Utah and Decrease 911 Caller Wait Times

    The Utah Communications Authority (UCA), which oversees the state’s next generation 911 technology services, recently announced that public safety answering points (PSAPs) throughout the state plan to implement Motorola Solutions’ Virtual Response technology to automate the receipt and resolution of 10-digit non-emergency line calls in Utah with the help of AI. Read Now

  • Report: 2025 Video Surveillance Market Set to Grow After Small Decline in 2024

    Novaira Insights has unveiled its latest report, “World Market for Video Surveillance Hardware and Software – 2025 Edition.” The research indicates that the global market for video surveillance hardware and software experienced a slight decline of 0.3% in 2024. This performance fell short of previous forecasts, primarily due to a significant decrease of 7.8% in the Chinese market. Conversely, the rest of the world saw a growth of 4.9%. The global market for video surveillance equipment was estimated to be worth $25.0 billion in 2024. Read Now

  • Report Reveals Local Governments Face Surge in Ransomware Attacks with Minimal Resources

    KnowBe4, the cybersecurity platform that comprehensively addresses human risk management, recently released new research highlighting the critical cybersecurity challenges facing state, local, tribal, and territorial (SLTT) governments. The report details how government organizations have become prime targets for cybercriminals while simultaneously facing severe resource constraints. Read Now

  • Video Surveillance Trends to Watch

    With more organizations adding newer capabilities to their surveillance systems, it’s always important to remember the “basics” of system configuration and deployment, as well as the topline benefits of continually emerging technologies like AI and the cloud. Read Now

  • New Report Reveals Top Trends Transforming Access Controller Technology

    Mercury Security, a provider in access control hardware and open platform solutions, has published its Trends in Access Controllers Report, based on a survey of over 450 security professionals across North America and Europe. The findings highlight the controller’s vital role in a physical access control system (PACS), where the device not only enforces access policies but also connects with readers to verify user credentials—ranging from ID badges to biometrics and mobile identities. With 72% of respondents identifying the controller as a critical or important factor in PACS design, the report underscores how the choice of controller platform has become a strategic decision for today’s security leaders. Read Now

New Products

  • Compact IP Video Intercom

    Viking’s X-205 Series of intercoms provide HD IP video and two-way voice communication - all wrapped up in an attractive compact chassis.

  • QCS7230 System-on-Chip (SoC)

    QCS7230 System-on-Chip (SoC)

    The latest Qualcomm® Vision Intelligence Platform offers next-generation smart camera IoT solutions to improve safety and security across enterprises, cities and spaces. The Vision Intelligence Platform was expanded in March 2022 with the introduction of the QCS7230 System-on-Chip (SoC), which delivers superior artificial intelligence (AI) inferencing at the edge.

  • 4K Video Decoder

    3xLOGIC’s VH-DECODER-4K is perfect for use in organizations of all sizes in diverse vertical sectors such as retail, leisure and hospitality, education and commercial premises.