British American Tobacco to pay record $629 million fine over North Korea sales | NK News
NK News Logo
December 24, 2024

NK News is hiring

News

British American Tobacco to pay record $629 million fine over North Korea sales

Cigarette makers staged ‘elaborate scheme’ that fueled regime’s habit and violated sanctions, US authorities say

A leading tobacco company has agreed to pay a record $629 million in penalties and fines to resolve bank fraud and sanctions violation charges associated with its tobacco operations in North Korea, the U.S. Department of Justice announced Tuesday.

British American Tobacco (BAT) has entered into a deferred prosecution agreement and its subsidiary BAT Marketing Singapore (BATMS) pleaded guilty to charges of conspiracy to commit bank fraud and violate the International Emergency Economic Powers Act (IEEPA), according to a Justice Department press release.

Try unlimited access
Only $1 for four weeks

  • Unlimited access to all of NK News: reporting, investigations, analysis
  • Year-one discount if you continue past $1 trial period
  • The NK News Daily Update, an email newsletter to keep you in the loop
  • Searchable archive of all content, photo galleries, special columns
  • Contact NK News reporters with tips or requests for reporting
Get unlimited access to all NK News content, including original reporting, investigations, and analyses by our team of DPRK experts.
Subscribe now

All major cards accepted. No commitments – you can cancel any time.