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UN report states that North Korea took $2 billion on cyberattacks to fund weaponry

The report describes a sophisticated and organised network of criminals dedicated to collect assets from banks and cryptocurrencies platforms in order to finance North Korea weapons of mass destruction program.

The report accuses the Pyongyang regime to maintain the development of weapons of mass destruction according to the independent inspection conducted as part of the investigation.

The report noted the sophistication of the attacks against financial institutions and cryptocurrency exchanges as well as the success of the criminal operation in subtracting funds to support the weapon program.

In additionally, the cyberspace was used for the laundering of such proceeeds.

As per the report 17 countries were impacted by the scheme.

The North Korean mission to the UN did not respond to the report findings.

Source

https://www.reuters.com/article/us-northkorea-cyber-un/north-korea-took-2-billion-in-cyberattacks-to-fund-weapons-program-u-n-report-idUSKCN1UV1ZX

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Jaime Prieto

Mr. Jaime Prieto is a lawyer experienced in Financial Crime, Anti-Money Laundering and Counter Terrorism Financing having extensive professional experience in both public and private sectors. Mr. Prieto has been a Head of Compliance in the European Union, the Americas and the Caribbean for banks, trust companies, asset managers, Big Four audit and advisory firms, RegTechs, government agencies and other types of financial professionals. In addition to his experience, he has been legal and educational chair in several compliance and sectorial organisations and performed as a teacher and speaker for a number of organisations and in several local and international forums. Furthermore, Mr. Prieto is an experienced Money Laundering Reporting Officer anda Data Protection officer with additional experience in risk management.
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