Australia Sanctions Entities Funding N. Korea’s Nuclear Program

Australia has announced sanctions on four entities and one individual for their involvement in cyber activities used to finance North Korea’s nuclear weapons and ballistic missile programs.

According to the Australian government, the decision follows growing concern over North Korea’s extensive engagement in malicious cyber operations, including cryptocurrency theft, fraudulent IT practices, and cyber espionage.

A report by the Multilateral Sanctions Monitoring Team revealed that North Korean hackers stole at least $1.19 billion worth of cryptocurrency in 2024. The stolen funds were reportedly laundered through a global network of North Korean nationals and foreign collaborators.

The report also indicated that North Korean officials used digital assets to sell and transport military equipment and raw materials for ammunition, such as copper.

Australian Foreign Minister Penny Wong urged North Korea to fully comply with United Nations Security Council resolutions and to abandon its nuclear weapons and ballistic missile programs in a complete, verifiable, and irreversible manner.

While the government did not disclose the names of the sanctioned entities or individual, the penalties include financial restrictions and travel bans.

The Multilateral Sanctions Monitoring Team was established in October 2024 through a joint initiative by South Korea and the United States, following the dissolution of the former UN expert panel after Russia vetoed its renewal.

The team comprises 11 member states, including Germany, France, Japan, and Canada, and bases its findings on intelligence shared by participating countries.