Fans of the movie “Office Space” are familiar with the dreaded TPS Report. Recently, the U.S. Bureau of Industry and Security (BIS) finalized its plans to reduce reporting requirements for certain encryption items.
On March 18, the U.S. Department of State amended the International Traffic in Arms Regulations (ITAR) to include Russia in Section 126.1. What does this mean if your company does business in Russia?
As the whole world is seemingly swept-up in the “crypto craze,” the Treasury Department’s Office of Foreign Assets Control (OFAC) just issued a stark warning to those companies whose businesses involve digital currency.
Recently, Princeton University ran afoul of the Export Administration Regulations (EAR) for unlicensed exports to multiple foreign locations - including many "friendly" countries to the United States.
There have been many changes over the last few months when it comes to China. When doing business with China, exporters and businesses must be diligent in knowing their customer, understanding what they do, who they are owned by, who they own, and what their products will be used in or with, as well as conducting robust Restricted Party Screening.
Last week, the U.S. Department of Justice announced that a former Raytheon engineer was sentenced to 38 months in prison for violations of the Arms Export Control Act (AECA).
There is an unprecedented rise of ransomware attacks against companies. As a result, many companies are finding themselves victims to cyber-attackers demanding payments to avoid shutting down their business. OFAC concerns must be addressed before any company decides to facilitate payment to cyber-attackers.
China is reviewing their current export control regulations and issuing updates, including a new law which would enable the Chinese government to take reciprocal measures against countries that undermine their export control measures and threaten their national security and interests.
Most companies want to do the right thing and are not intentionally violating the law, however, even companies with comprehensive import programs can make mistakes and violate the law. Once a violation has been discovered, it is important to report that violation to Customs.
Does your company have an import compliance manual to guide your trade compliance program? Check out why, what, and how your company's import compliance manual should be set up and rolled out to your company!