EVADING, HACKING & LAUNDERING FOR NUKES: NORTH KOREA’S FINANCIAL CYBERCRIMES & THE MISSING SILVER BULLET FOR COUNTERING THEM
EVADING, HACKING & LAUNDERING FOR NUKES: NORTH KOREA’S FINANCIAL CYBERCRIMES & THE MISSING SILVER BULLET FOR COUNTERING THEM
Abstract: North Korea has employed various means to evade international sanctions and launder its illicit funds. It has expanded such activities into cyberspace in recent years with astounding adaptability as well as tactical and operational maturity. Whereas upward harmonization of anti-money laundering standards on a global scale would be more potent than other suggested solutions such as increasing cybersecurity resilience and replacing cryptocurrencies entirely with central bank digital currencies, North Korea likely will remain largely undeterred. Instead of looking for a “silver bullet,” the international community must focus on building financial incentive structures that could induce nations’ participation in the upward regulatory harmonization.
Recommended Citation: Seongjun “Spencer” Park, Evading, Hacking & Laundering for Nukes: North Korea's Financial Cybercrimes & The Missing Silver Bullet for Countering Them, 45 Fordham Int'l L.J. 675 (2022).