Isle of Man Treasury has issued a sanctions update under the Cyber Sanctions Regime, reflecting changes to the UK Sanctions List that apply in the Isle of Man via the Sanctions (Implementation of UK Sanctions) Regulations 2024. The update adds six entries to the list and amends one entry, with the new and amended listings subject to an asset freeze. The amended entry relates to CHOSUN EXPO (also known as Chosen Expo and Korean Export Joint Venture), described as a North Korea-based front company used by malicious cyber actors operating under the Reconnaissance General Bureau, and linked to supporting or promoting relevant cyber activity including data interference and unauthorised access to information systems. Treasury reiterated standard compliance steps for suspected matches, including freezing assets immediately, checking for false positives, not making funds or economic resources available without an exemption or licence, and reporting frozen assets and suspected or attempted breaches to the Financial Intelligence Unit, including where ownership or control links a corporate entity to a listed person.
The Treasury (Isle of Man) 2025-11-19
Isle of Man Treasury publicises six new UK Cyber Sanctions designations and amends one listing
The Isle of Man Treasury updated its sanctions under the Cyber Sanctions Regime, aligning with changes to the UK Sanctions List via the Sanctions (Implementation of UK Sanctions) Regulations 2024. The update includes six new entries and one amendment, all subject to an asset freeze. The amended entry involves CHOSUN EXPO, linked to North Korean cyber activities, with compliance steps reiterated for suspected matches.