The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced a $508 million settlement agreement with London-headquartered British American Tobacco p.l.c. (BAT) to resolve its apparent violations of U.S. sanctions on North Korea and proliferators of weapons of mass destruction (WMD).
This settlement is OFAC's largest ever with a non-financial institution and reflects the statutory maximum penalty.
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by Joji Xavier
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