Category Archives: north korea

US targets North Korea’s online gambling operations

us-targets-north-korea-online-gambling-sitesNorth Korea is seeking international investors to back a floating casino operation just as US legislators vow to clamp down on the regime’s online gambling operations.

On Thursday, South Korean media reported that a North Korean website was inviting foreign investors to bet on a proposed cruise ship venture that would ferry customers from the port of Kosong to Russia’s far east and other southeast Asian destinations. The ship would feature “various amenities” including “a casino business.”

North Korea used to have such a casino cruise business, but the South Korean company that operated the 30k-tonne ferry halted operations after a North Korean soldier killed a South Korean tourist visiting North Korea’s Mr. Kumgang special international tourism zone in 2008.

North Korea says investors should be willing to plunge between US$10m and $20m into the cruise business over the next decade. To sweeten its pitch, North Korea says the business will be “guaranteed favorable conditions for economic activities.”

North Korea’s chances of finding deep-pocketed investors are slim, given the country’s perpetual threats to rain down nuclear weapons on its regional neighbors and the United States. The civilized world has responded by imposing harsh financial sanctions against the diplomatically isolated North Korean regime, leaving it starving for hard currency.

North Korea’s recent announcement that it had successfully tested new long-range missile technology prompted the US House Foreign Affairs Committee to propose even tighter restrictions on doing business with the Hermit Kingdom, including targeting the regime’s online gambling operations, which are said to earn over $860m per year.

The new Korea Interdiction and Modernization of Sanctions Act calls for penalties for any individual or organization that “knowingly, directly or indirectly, engaged in, facilitated, or was responsible for the online commercial activities of the Government of North Korea, including online gambling.”

North Korea’s online gambling operations recently made headlines after one of the suspect’s in last month’s assassination of Dear Leader Kim Jong-Un’s casino-loving half-brother in Malaysia was said to have originally arrived in the country to operate online gambling and pornography sites.



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North Korea’s illegal on line gambling earns routine shut to a billion dollars

July seven, 2016


north-korea-online-gamblingNorth Korea earns shut to one particular billion dollars per calendar year from illicit world-wide-web exercise, largely through illegal on line gambling corporations.

Yoo Dong-ryol, head of the Korea Institute of Liberal Democracy and a former senior researcher at the Korean Countrywide Law enforcement University, designed the declare at the South Korean military’s annual stability conference in Seoul on Thursday.

Yoo stated North Korea operates “tens of hubs in China and Southeast Asia” aimed at generating sorely required foreign forex to prop up the isolated routine. Collectively, Yoo estimated these hubs make all over KRW 1t (US $864m) by “developing and selling illegal gambling plans, functioning gambling websites using names of foreign nationals and stealing cyber revenue as a result of hacking.”

Korea JoongAng Daily quoted Yoo declaring illegal gambling software package plans are bought for tens of millions of received, with even more profitable prices for updates. Yoo stated the North hires nearby residents in other Asian nations around the world to run the gambling websites, with the profits break up “six to 4 or 50 percent-and-50 percent.”

The conference also heard from an intelligence formal who claimed the North Korean gambling software package was “embedded with destructive code” that was utilised to hijack personal computers for mass cyber assaults. Yoo stated the North had not too long ago extra 800 hackers, bringing the regime’s total hacking drive to six,800 individuals.

Last Oct, South Korea’s Countrywide Intelligence Company estimated there were being a total of 1,100 North Korean brokers working on line gambling websites that directly qualified South Korean bettors. Other brokers were being reportedly concentrating on on line function-participating in gamers by selling prized in-match digital products.

During the 2014 FIFA Earth Cup, Cambodian authorities arrested fifteen North Korean nationals for working an illegal on line football betting operation out of a rented villa in Phnom Penh. In addition to the normal cache of personal computers and betting documents, the authorities seized a significant $eight.6m in wagering money.

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