On November 4, 2025, the OFAC sanctioned eight individuals and two entities for their role in laundering funds derived from a variety of illicit Democratic People’s Republic of Korea (DPRK) schemes, including cybercrime and information technology (IT) worker fraud. According to the Multilateral Sanctions Monitoring Team’s report, these operations have been linked to the funding for the DPRK’s weapons of mass destruction (WMD) programs and destruction of physical computer equipment.
The DPRK leverages a broad network of international representatives from its financial institutions to facilitate access to global markets and finance, enabling money laundering and other illicit activities that support its weapons of mass destruction and ballistic missile programs. Key players in this network include Ryujong Credit Bank, which aids in sanctions avoidance between China and North Korea, and several individuals based in China and Russia who have coordinated substantial financial transactions on behalf of DPRK-affiliated banks. In response to these activities, the OFAC has imposed sanctions on various individuals and entities associated with the DPRK.
All property and interests owned by designated persons are blocked and must be reported to OFAC. Entities that are 50 percent or more owned by these blocked persons are also considered blocked. Financial institutions and individuals that conduct transactions with sanctioned entities, including making or receiving contributions of funds, goods, or services from these designated persons, may face sanctions and enforcement actions.
Read the Treasury’s full press release here.
