Do you slap “Made in USA” labels on your products or advertise in this way? Can you, without a doubt, declare your products are – in fact – made in the USA? This is one of the most overused (and misunderstood) proclamations companies make on the market today. Ensuring accuracy is imperative because the consequences can be expensive.
What does your export compliance program look like? When was the last time you looked at it? Let’s back up further. Do you even have a compliance program? Answers to these questions are going to play a critical role for many companies this year. That’s because 2024 is shaping up to be a year of increased enforcement. Are you ready for it?
What do you find at the end of the Yellow Brick Road? For two Americans accused of evading U.S. export controls, the answer is fines, penalties and prison. (Oh my!)
Explore the critical role of sanctions in trade, their historical context, and their impact on global business compliance.
In November, the largest cryptocurrency exchange in the world paid the largest settlement in OFAC history for alleged sanctions violations. Together with other agencies, the settlement totaled over $4 billion! On top of that, the CEO also pled guilty, has relinquished his role, and must pay a personal fine of $50 million. What happened?
If you’ve spent the last year-and-a-half focused on Russia, hold that thought, and don’t take your eye off other bad actors around the world. That’s what the U.S. Government is warning with its third joint notice, published earlier this month.
Explore U.S. regulations mandating firms to reject unsanctioned foreign boycotts and report boycott-related requests to the OAC and IRS.
Discover how daVinci's reward process lacked due diligence, allowing recipients in sanctioned countries to access rewards, highlighting the need for geolocation controls.
Stop me if you’ve heard this one: “We don’t make munitions or sell weapons, so we are good on all those export-law requirements.” Statements like this make most trade compliance managers cringe. Why? Because there’s so much more to import/export compliance than just “selling munitions.” Take the enforcement case announced last month against 3M Company.
Trade compliance audits can be scary, cumbersome and time-consuming. Why would any company subject itself to this? The importance of any import/export compliance audit is to avoid the dreaded “F&P” words. These are two words that most companies don’t want to hear … or even say (unless it’s behind closed doors). Maybe this has never crossed your mind. If it has, keep reading and we’ll help you unpack the details.