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!
In a press release earlier this month, the Bureau of Industry and Security (BIS) announced a tightening of controls against Chinese tech firm Huawei Technologies. BIS also added an additional 38 Huawei affiliates to the Entity List.
All U.S. companies that export anything need to ensure that they are compliant with current regulations and policies. See how we help your business with a comprehensive 5-step export compliance assessment!
The Directorate of Defense Trade Controls announced on July 29, 2020 changes to the measures announced on April 23, 2020 to lessen the burden that the COVID-19 pandemic is having on U.S. companies and the overseas supply chains. These changes were based on recommendations from industry and DDTC review of the public comments.
Exporters often find themselves in need of assistance at various stages of the exporting process. Export Solutions often receives inquiries from potential clients looking for assistance through trade consulting or freight forwarding. It is easy to confuse the two roles because consultants and freight forwarders often work very closely in order to achieve export compliance.