On April 15, 2020, the U.S. Departments of State, the Treasury,
and Homeland Security, and the Federal Bureau of Investigation issued an advisory
alert providing guidance on the North Korean cyber threat and steps
to mitigate that threat (the "Alert").1 The U.S.
Government has repeatedly warned the private sector that North
Korea, formally known as the Democratic People's Republic of
Korea ("DPRK"), routinely engages in malicious cyber
activities and has specifically targeted financial
institutions.
This Alert serves as a reminder, especially during this pandemic
as businesses go remote and virtual to an unprecedented degree,
that the cyber threat, including from the DPRK, remains a critical
risk for all companies. Financial institutions in particular,
a traditional target of North Korean cyber activity, should take
steps to ensure they are protecting themselves from and responding
effectively to malicious cyber intrusions.
