Multilateral Sanctions Monitoring Team (MSMT) report, 22 Oct 2025
U.S.-incorporated front company Guanghe Technology Development LLC used to secure contracts with a Serbian company · 2024
(MSMT/2025/2, report p. 84) “Since 2024, North Korean IT workers have established at least two U.S.-registered front companies. North Korean IT workers based in China as of 2024 were using U.S.-incorporated front company Guanghe Technology Development LLC to secure work contracts with a Serbian company and receive payments at a U.S. bank.”