Vietnam Beverage Company Limited — $860,000 OFAC penalty
OFAC published a $860,000 civil penalty against Vietnam Beverage Company Limited on 10/17/2024. It is the #110 largest action in OFAC’s 1,052-entry enforcement chart and #6 of the 12 actions published that year.
What OFAC said
Limited settles with OFAC for $860,000 for Apparent Violations of the North Korea Sanctions Regulations Vietnam Beverage Company Limited (VBCL), a holding company based in Vietnam whose subsidiaries are involved in the production and sale of alcoholic drinks, has 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 ("North Korea" or the "DRPK").
Quoted verbatim from OFAC’s enforcement release — read the original.
The record
| Entity, as published by OFAC | Vietnam Beverage Company Limited |
|---|---|
| Penalty / settlement amount | $860,000 |
| Date published by OFAC | 10/17/2024 |
| Aggregate penalties, settlements or findings | 1 |
| Rank among all published OFAC actions | #110 of 1,052 |
| Rank within 2024 | #6 of 12 |
| Share of 2024 penalty total | 1.8% |
| Statutory maximum penalty | $15,829,848 |
| Base penalty | $1,720,000 |
| Voluntarily self-disclosed | No |
| OFAC egregiousness determination | Non-egregious |
| Conduct period cited | April 2016 - October 2018 |
| Sanctions programs named in the release | North Korea |
Settlement against statutory maximum
OFAC put the statutory maximum civil monetary penalty for this case at $15,829,848. The settled amount of $860,000 is 5.4% of that maximum, which OFAC's Enforcement Guidelines tie to factors including voluntary self-disclosure and whether the conduct was egregious.
Primary source
OFAC enforcement release: 20241017_vbcl.pdf. This page adds no facts beyond that document and OFAC’s published penalty chart.
Comparable 2024 actions
- An Individual — $1,104,408
- Mondo TV, S.p.a. — $538,000
- C.H. Robinson International, Inc. — $257,690
- American Life Insurance Company — $178,421
- An Individual — $45,179
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