British American Tobacco fined over $600M for North Korea sanctions violations.
TL;DR Summary
British American Tobacco has agreed to pay over $629 million to settle allegations of illegal business with North Korea in violation of US sanctions. The company's Singapore subsidiary pleaded guilty to conspiring to commit bank fraud and violate sanctions. The penalty is the largest arising from North Korea sanctions violations in the Justice Department's history. Smuggled tobacco products are regarded as a major source of revenue for North Korea's nuclear and weapons of mass destruction programs.
Topics:nation#british-american-tobacco#business#compliance-programs#illegal-business#north-korea#sanctions
- British American Tobacco to pay $629M for violating North Korea sanctions NPR
- British American Tobacco to pay $635m for North Korea sanctions breaches BBC
- World's second-largest tobacco company to pay over $600 million for violating sanctions against North Korea ABC News
- Tobacco company pleads guilty to violating U.S. sanctions on North Korea The Washington Post
- DOJ, State: $629M criminal fine, $508M civil settlement against British American Tobacco for selling to North Korea USA TODAY
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