The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced on Mar. 12 that it has sanctioned six individuals and two entities for their involvement in information technology worker schemes orchestrated by the Democratic People’s Republic of Korea (DPRK). These schemes have targeted American businesses and generated nearly $800 million in revenue in 2024 to support North Korea’s weapons programs.
The Treasury said these actions are part of a broader effort to counter DPRK activities that violate U.S. and United Nations sanctions, including attempts to fund weapons of mass destruction through fraudulent IT work. The department noted that North Korean operatives use false identities and documentation to gain employment with legitimate companies, funneling most earnings back to the regime.
“The North Korean regime targets American companies through deceptive schemes carried out by its overseas IT operatives, who weaponize sensitive data and extort businesses for substantial payments,” said Secretary of the Treasury Scott Bessent. “Under President Trump’s leadership, Treasury will continue to follow the money in order to protect U.S. businesses from these malicious activities and ensure those responsible are held accountable.”
Among those designated is Amnokgang Technology Development Company, a DPRK-based firm managing overseas IT workers and conducting illicit procurement activities. Nguyen Quang Viet, CEO of Vietnam-based Quangvietdnbg International Services Company Limited, was also sanctioned for converting approximately $2.5 million into cryptocurrency for North Koreans between mid-2023 and mid-2025, including funds linked to Amnokgang.
Other individuals sanctioned include Do Phi Khanh and Hoang Van Nguyen for assisting a known DPRK nuclear procurement facilitator with laundering proceeds from IT workers and facilitating counterfeit goods deals exceeding $200,000. Additionally, Yun Song Guk led a group operating out of Laos coordinating financial transactions related to freelance IT services.
As a result of these sanctions, all property belonging to the designated persons within U.S. jurisdiction is blocked, and U.S. persons are generally prohibited from engaging in transactions involving them unless authorized by OFAC. The department warned that violations may result in civil or criminal penalties for both U.S. and foreign persons involved.
Bessent said the ultimate goal is not punishment but positive change: “The power and integrity of OFAC sanctions derive not only from OFAC’s ability to designate… but also from its willingness to remove persons from the Specially Designated Nationals and Blocked Persons List consistent with the law.”
