Vietnamese business pays $860K for violating U.S. sanctions on North Korea
By 
Adrianne Appel2024-10-18T18:10:00
A Vietnamese alcohol company has agreed to pay $860,000 to settle allegations by the Office of Foreign Assets Control (OFAC) that its business with North Korea involved U.S. financial institutions.
North Korea Sanctions Regulations (NKSR) bar U.S. financial institutions from assisting in the export of alcohol, and other items, to the Democratic People’s Republic of Korea (North Korea). The aim is to pressure the repressive regime to halt its nuclear missile program.
Between April 2016 and October 2018, subsidiaries of Vietnam Beverage Company Limited (VBCL) had U.S. financial institutions process $1.1 million in payments for sales of beer and spirits to North Korea.
Related articles
-
News BriefDOJ indicts five in remote IT work scheme to circumvent North Korean sanctions
Five people, including two Americans, allegedly duped U.S. companies into hiring North Koreans for contract IT work, and funneled millions in U.S. dollars to the sanctioned regime, the Department of Justice said.
-
News BriefFinCEN, OFAC sanction crypto platforms linked to Russia, cybercrime
U.S. and European law enforcement agencies have announced sanctions against two Russia-linked cryptocurrency platforms in their ongoing chase to snuff out Russian-linked financial platforms that assist cybercriminals.
-
News BriefOFAC sanctions entities providing electronic components for Iranian weapons
Five individuals and seven entities in Iran, China, and Hong Kong have been targeted for U.S. sanctions by the Treasury Department’s Office of Foreign Assets Control for helping to obtain components used in Iran’s missles and drones.
More from Regulatory Enforcement
-
ArticleFlorida seafood exec faces 10 years for crab claw price fixing
A Florida seafood company executive has pleaded guilty to conspiring with competitors to fix the prices he paid to local fishers, an effort that impacted more than $8 million in wholesale fish and cut the pay of hundreds of fishers, the Department of Justice said.
-
ArticleFormer U.S. clothing business CEO faces 25 years for bribery in Honduras
The former CEO of a Georgia clothing business faces 25 years in prison for bribing Honduran officials to win $10 million in uniform contracts in Honduras, after being caught up in a Department of Justice Anticorruption Task Force.
-
News BriefDOJ sues Uber over alleged discrimination against disabled riders
The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.