US Treasury goes after IT shops for funneling cash to North Korea The US Treasury department is placing new sanctions on two IT companies it believes to be sending money to North Korea. The ruling bars two companies, China Silver Star and Volasys Silver Star, and one person, Jong Song Hwa, from owning any assets in the US or doing business with any US companies or contractors. Based in …
two IT companies it believes to be sending money to North Korea
Only two? That's it? Serious?
C'mon, let's be serious about this, shall we? This is a simple game of political whack-a-mole. You "close" one down, another two (three or more) pops up. Factor in that China (still) turns a blind eye to NK activities in China, this is just an exercise of stupidity.
What is more important is the fact that NK hacking activity is on the rise. They are, literally, robbing banks. And what is being done about that?
They are, literally, robbing banks. And what is being done about that?
Why should anything be done? For decades the Western banks have been raping and pillaging taxpayers without ANY consequence to the people responsible. In the US, UK, Europe (and indeed Japan, with its two or three lost decades), the multiple trillion dollar losses of banking overreach have been paid by the taxpayer. I'd guess the global unemployment impact at an additional 60 million unemployed for a decade (and that's probably conservative). In the few instances of regulatory sanction, the only people who really suffered were bank shareholders not management. And today we are more in debt than before the crisis, real living standards have been stagnating for the fat end of two decades, the more cognisant are starting to mutter about Global Financial Crisis 2.
Now, run it by me again: Why should we give a flying fuck if the Norks or anybody else steal from banks whose only interest is paying themselves fat and undeserved bonuses, and who are too lazy to secure their systems?
"Why should we give a flying fuck if the Norks or anybody else steal from banks whose only interest is paying themselves fat and undeserved bonuses, and who are too lazy to secure their systems?"
Because when the North Korean regime steals a billion dollars from the Bangladesh Bank (the central bank), they're stealing money that could be used to improve the lives of 150,000,000 crashingly poor people and spending it on propping up its own regime's oppression of 25,000,000 crashingly poor people.
It's no skin off your nose, Mr IT Middle Manager, but in the wider world it's a big deal.
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