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Violation Tracker Individual Record

Company: Vietnam Beverage Company Limited
Penalty: $860,000
Year: 2024
Date: October 17, 2024
Offense Group: financial offenses
Primary Offense: economic sanction violation
Violation Description: Vietnam Beverage Company Limited (VBCL), a holding company based in Vietnam whose subsidiaries are involved in the production and sale of alcoholic drinks, agreed to pay $860,000 on behalf of two of its subsidiaries to settle its potential civil liability for apparent violations of OFAC sanctions on the Democratic People's Republic of Korea. Between April 2016 and October 2018, VBCL's subsidiaries sought and received approximately $1,141,547 in payments through U.S. financial institutions for the sale of alcoholic beverages to North Korea, causing these U.S. financial institutions to export financial services to North Korea.
Level of Government: federal
Action Type: agency action
Agency: Office of Foreign Assets Control
Civil or Criminal Case: civil
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.