UK regulators end fraud investigation into BAT | Local | Instant News


“BAT is pleased that the SFO has closed its investigation and the SFO has not taken any further action on this matter. BAT remains committed to the highest standards in conducting its business,” the company said.

It is unclear the status of the investigation by two US regulators whether BAT is in breach of international sanctions, the manufacturer said in its 2019 financial reports.

The regulators are the US Department of Justice and the Office of State Assets Control, a financial intelligence and enforcement agency within the US Treasury. The list of affected countries has not been disclosed.

“The group is cooperating with the investigations of the authorities,” BAT said in October of a US investigation. “The potential fines, penalties or other consequences at this time cannot be assessed.”

“It is not yet possible to identify a time scale on which this problem might be resolved,” he said.

On Friday, BAT said in a statement that “we are continuing to cooperate with the US authorities regarding their sanctions investigation. There are no further updates at this time.”

Campaign for Tobacco-Free Children, a US anti-tobacco advocacy group, has urged regulators and the US Justice and Securities and Exchange Commission Congress to carry out their own investigations into BAT relating to the Foreign Corrupt Practices Act.

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