Tag Archive for: sanctions

US, partners target North Korea with sanctions following satellite launch

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WASHINGTON/SEOUL (Reuters) -The United States on Thursday targeted North Korea with fresh sanctions after its launch of a spy satellite last week, designating foreign-based agents it accused of facilitating sanctions evasion to gather revenue and technology for its weapons of mass destruction program.

The U.S. Treasury Department in a statement said it also applied sanctions to cyber espionage group Kimsuky, accusing it of gathering intelligence to support North Korea’s strategic and nuclear ambitions.

Thursday’s action, taken in coordination with Australia, Japan and Korea, comes after North Korea last week successfully launched its first reconnaissance satellite, which it has said was designed to monitor U.S. and South Korean military movements.

“Today’s actions by the United States, Australia, Japan, and the Republic of Korea reflect our collective commitment to contesting Pyongyang’s illicit and destabilizing activities,” Treasury’s Under Secretary for Terrorism and Financial Intelligence, Brian Nelson, said in the statement.

“We will remain focused on targeting these key nodes in the DPRK’s illicit revenue generation and weapons proliferation,” Nelson added, calling North Korea by the initials of its official name, the Democratic People’s Republic of Korea.

South Korea’s foreign ministry said on Friday that it had blacklisted 11 North Koreans for involvement in the country’s satellite and ballistic missile development, banning them from any financial transactions.

The list includes senior officials from the National Aerospace Technology Administration, which oversaw the satellite launch, and the munitions industry department.

North Korea’s mission to the United Nations in New York did not immediately respond to a request for comment on Thursday’s sanctions.

Since the launch of the satellite, North Korea said that its leader, Kim Jong Un, has reviewed spy satellite photos of the White House, Pentagon and U.S. aircraft carriers at the naval base of Norfolk. Its state media has also reported that the satellite photographed cities and military bases in South Korea, Guam, and Italy, in addition to Washington.

On Monday, the United Nations ambassadors of the United States and North Korea…

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How Effective Are Government Sanctions Against Ransomware

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How Effective Are Government Sanctions Against Ransomware

As ransomware attacks reach an all-time high, with 46% of them directed against American individuals and organizations, sanctions have become an important weapon for the government to fight back.

The US government imposed sanctions on Mikhail Mahteev — a Russian cybercriminal on the FBI’s most-wanted list.

Mahteev has been accused of being a “prolific ransomware affiliate” carrying out cyberattacks both in the US and abroad. The sanctioning of ransomware attackers is meant to protect victims from extortion, but it is a double-edged sword. Companies that pay ransom to sanctioned individuals and groups end up on the receiving end of the consequences.

The Downside of Sanctions

While it’s true that sanctions make it more difficult for cybercriminals to operate, they are far from being the perfect solution. A number of factors make it hard to effectively sanction ransomware groups, and there are still ways these groups can work around the sanctions. Besides, it’s ultimately the victims who face the consequences, which can range from hefty fines to criminal prosecution.

The tactic is meant to bar American victims from paying ransomware extortionists, but the only way it can be enforced is by penalizing victims who violate the sanctions.

A lot of ransomware actors like Mahteev are based in Russia — a country with a reputation for allowing hackers to operate freely, especially against Western targets.

There isn’t much the US government can do against such cybercriminals to enforce the sanctions effectively.

Besides, the way sanctions work makes them a less-than-ideal solution for tackling the ransomware threat, too. Imposed by the U.S.

Treasury’s Office of Foreign Assets Control (OFAC), these sanctions make it unlawful for individuals and businesses in the US to transact with sanctioned entities like Mahteev.

Experts also fear that such sanctions could potentially encourage opposite reactions. Victim organizations violating the sanctions by making ransomware payments to sanctioned entities or countries, even unknowingly, might not notify authorities of the incident out of fear of prosecution.

This would lead to a lot of ransomware attacks going…

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Alleged Trickbot, Conti ransomware members face US, UK sanctions – SC Media

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Alleged Trickbot, Conti ransomware members face US, UK sanctions  SC Media

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UK sanctions members of Russian cybercrime gang

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  • Sanctions hit eleven from Russian cyber gang that targeted hospitals and other critical infrastructure
  • Sanctions will disrupt ransomware attacks and expose attackers behind them
  • New measures delivered in coordinated effort with the United States

Members of a Russian cyber criminal gang behind the Trickbot/Conti ransomware attacks, which included the hacking of critical infrastructure and hospitals during the COVID-19 pandemic, face new sanctions today (7 September).

Eleven cyber criminals, whose gang also threatened those who oppose the illegal Russian invasion of Ukraine, have been targeted with asset freezes and travel bans in a coordinated effort by UK and US authorities to counter the threat of ransomware both in the UK and abroad. The US Department of Justice (DOJ) is concurrently unsealing indictments against seven of the individuals designated today.

The National Crime Agency (NCA), who conducted a complex investigation into these individuals, assesses that the group was responsible for extorting at least $180m from victims globally, and at least £27m from 149 UK victims. The attackers sought to target UK hospitals, schools, local authorities and businesses.

The individuals being designated in the UK are:

  • Andrey Zhuykov was a central actor in the group and a senior administrator. Known by the online monikers “Defender”, “Dif” and “Adam”.
  • Maksim Galochkin led a group of testers, with responsibilities for development, supervision and implementation of tests. Known by the online monikers “Bentley”, “Volhvb” and “Max17”
  • Maksim Rudenskiy was a key member of the Trickbot group and was the team lead for coders. Known by the online monikers “Buza”, “Silver” and “Binman”.
  • Mikhail Tsarev was a mid-level manager who assisted with the group’s finances and overseeing of HR functions. Known by the online monikers “Mango”, “Fr*ances” and “Khano”.
  • Dmitry Putilin was associated with the purchase of Trickbot infrastructure. Known by the online monikers “Grad” and “Staff”.
  • Maksim Khaliullin was an HR manager for the group. He was associated with the purchase of Trickbot infrastructure…

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