Por: U.S. DEPARTMENT OF THE TREASURY
01/03/2023
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $332,500 settlement with Godfrey Phillips India Limited ("GPI"). GPI, a Mumbai, India-registered tobacco company, has agreed to settle its potential civil liability for five apparent violations of the North Korea Sanctions Regulations, 31 C.F.R. part 510. Specifically, between July and August 2017, GPI requested payment in U.S. dollars for its indirect exportation of tobacco to the Democratic People’s Republic of Korea. One of these five payments was directed to the foreign branch of a U.S. financial institution. OFAC determined that GPI did not voluntarily self-disclose the apparent violations, and that the apparent violations constitute a non-egregious case.
