North Korea’s Digital Heists – Crypto Crime and Risks to the Financial Sector

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WHEN : 10/28/2021 1:00 pm 2:00 pm ET

Complimentary webinar, presented courtesy of Global Affairs Canada

Pressured by sanctions, the government of North Korea has turned to an unexpected outlet to generate funds and move money – theft of cryptocurrencies. Cybercrime groups with ties to North Korea have targeted cryptocurrency exchanges in recent years, with considerable success. In 2019, a UN panel estimated the country was responsible for over $500 million in funds stolen from exchanges.

Those looted funds are typically moved through exchanges and into the traditional financial sector, creating risks for both crypto firms and banks. In one notable case last year, the U.S. government took action against two Chinese nationals for their role in helping the North Korea-aligned Lazarus Group launder funds stolen in cryptocurrency exchange hacks. The DOJ listed 145 virtual currency accounts and addresses that were used to launder the funds, 20 of which were included in a sanction designation.

Join crypto expert and former federal prosecutor Ari Redboard as he explores how North Korean-affiliated groups target cryptocurrencies, how stolen funds are laundered, and where risks lie for institutions outside of the crypto space. This will be a free-wheeling conversation, so bring your questions and get answers!

This session is eligible for 1 CFCS credits.

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