US government fines global cigarette paper supplier over $1.5m for ‘duping’ US banks to trade with North Korea - AML Intelligence
AML Intelligence
Business Intelligence on AML and Financial Crime for Executive Leaders

Asia-Pacific, Regulatory

US government fines global cigarette paper supplier over $1.5m for ‘duping’ US banks to trade with North Korea

Cigarette company charged with fraud over shipment to North Korea

By Vish Gain for AMLi

A GLOBAL cigarette paper company has been fined more than $1.5m (€1.25m) by the US Department of Justice for deceiving US banks to trade with North Korea despite sanctions.

The Indonesia-based company, PT Bukit Muria Jaya (BMJ), entered a deferred prosecution agreement with the Justice Department for “conspiring to commit bank fraud in connection with the shipment of products to North Korean customers”, according to a DoJ statement released Sunday.

Login here or become a subscriber to AML Intelligence.
Login Subscribe Now