The US sanctioned a North Korean network accused of defrauding businesses. This is sanctions enforcement moving through the cyber and fraud channel, so watch compliance and counterparty screening cost

What happened: The United States imposed sanctions on Wednesday targeting North Korean government-run schemes that use IT workers to defraud US businesses, the Treasury Department said. Why it matters: Treasury said the networks permeate the global financial system and require a unified response. The sanctions come as Trump has sought talks with North Korea, which has shown little interest in diplomacy.

The United States imposed sanctions on Wednesday targeting North Korean government-run schemes that use IT workers to defraud US businesses, the Treasury Department said.

Treasury said the networks permeate the global financial system and require a unified response. The sanctions come as Trump has sought talks with North Korea, which has shown little interest in diplomacy.