They are accused of managing funds on behalf of the sanctioned First Credit Bank, including approximately $5.3 million in cryptocurrency. The Treasury Department pointed out that North Korea relies on a network of banks, shell companies, and financial institutions established in its own country, Russia, and other places for money laundering, cryptocurrency theft, and sanctions evasion. The U.S. had previously warned businesses to be cautious of disguised North Korean IT professionals infiltrating financial systems to engage in illegal activities.
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