NYDFS Warns Against the Threat of Accidentally Hiring North Korean Remote IT Workers
Keypoint: The New York State Department of Financial Services (NYDFS) issued an industry letter outlining the threats posed to U.S. companies who hire remote technology workers linked to North Korea and may embezzle funds from their new employers. On November 1, 2024, NYDFS issued guidance warning companies against an increasing risk posed from individuals applying for employment in IT roles who are in fact operating on behalf of North Korea. These applicants seek employment in order to infiltrate western companies’ computer systems and illicitly generate revenue for the North Korean regime. As recently as August 8, 2024, the FBI arrested Matthew Knoot of Nashville, Tennessee, for his involvement in a scheme designed to assist North Korean threat actors secure remote IT positions with companies in the United States and the United Kingdom. These threat actors were paid hundreds of thousands of dollars in income that was funneled to the North Korean government to generate rev...