Leveraging Restricted Party Screening Software to Minimize Risk from Politically Exposed Persons

Posted by Gary M. Barraco on Thu, Jul, 13 2017 @ 12:58 PM

2017 might go down in the record books as the year of changing trade regulations. Tax and duty, preferential trade, import/export controls, and other complex laws are all under the regulators microscope in countries around the world. Adding another layer of risk, organization like the Financial Action Task Force (FATF), UK National Crime Agency (NCA) and others are working to ensure that businesses do not engage in bribery as a means to obtain or retain business. Numerous countries around the world have passed anti-corruption laws, such as the US Foreign Corrupt Practices Act (FCPA), the UK Bribery Act, the Canadian Corruption of Foreign Public Officials Act (CFPOA), Chinese Anti-Corruption Laws, and more. Some of these laws does not distinguish between small and large bribery payments, thus prohibiting any facilitation payments.

Many organizations are already getting hit with huge fines for breaches in anti-money laundering rules in the United Kingdom, Hong Kong and Germany. The first step toward compliance with these regulations is to identify those individuals that may be part of your company’s operation.

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Topics: Restricted Party Screening

Export Control Violation Leads to Billion Dollar Penalty

Posted by Joe Gabro on Fri, Apr, 28 2017 @ 12:15 PM

This is an update to a blog post originally published on March 10, 2017.

Update:  Last month, the US Bureau of Industry and Security (BIS) decided to remove ZTE Corporation from its Entity List, allowing the company to continue business in the United States. 

“By acknowledging the mistakes we made, taking responsibility for them... we are committed to a ZTE that is fully compliant, healthy, and trustworthy.”

- Zhao Xianming, ZTE President

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Topics: Export Management, Export Compliance, Restricted Party Screening, Export Violations

Upcoming Webinar: Understanding the Key Elements of Exporting

Posted by Chester Yavari on Fri, Apr, 7 2017 @ 10:01 AM

As companies like yours look to increase revenues and expand into rewarding foreign markets, uncertainties and complexities await. These lurking uncertainties are the primary challenges and complications with export compliance. Rapid growth for your company often means entering new fertile markets, expanding production, and reaching new customers. All of these factors bring immeasurable pressure to your trade compliance team. 

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Topics: Export Management, Export Compliance, Restricted Party Screening

Best-in-Class Global eCommerce Capabilities

Posted by Ryan Gudovitz on Mon, Jun, 20 2016 @ 9:00 AM

As the world has shrunk and companies have largely moved their presence online, global trade management (GTM) has become a major factor in supporting eCommerce.

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Topics: Global Trade Content, Global Trade Management, Restricted Party Screening

Iranian Sanctions and the Challenge of Getting Paid

Posted by Arne Mielken on Wed, May, 25 2016 @ 9:30 AM

The recent lifting of some Iran sanctions has created considerable interest in the global trading community. However, while there is optimism and hope that a closed market with big investment and opportunity will open to worldwide trade soon, there is also uncertainty. When is the right time for getting back into trading with Iran? Now? Or should we wait a little longer? The messages sent from governments are, at best, mixed. Since mid-January, the EU and the US have formally lifted important elements of their previously enforced strict sanctions. Trade promotion authorities have started setting up trade missions and we read reports about mega-deals being signed. 

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Topics: Export Management, Export Compliance, Restricted Party Screening, Export Violations

Danieli Group Enhances Global Trade Compliance with Screening Solution

Posted by Kelsey Barker on Tue, May, 24 2016 @ 10:19 AM

In an era of heightened security, determining whether individuals, companies or organizations are restricted from conducting trade is essential. Exporters are responsible for ensuring that they are compliant with government regulations and that their goods are not being sold to undesirable entities.

To safeguard against these risks, Danieli & C. Officine Meccaniche SpA has selected Amber Road's Restricted Party Screening solution to support the company's enterprise-wide global trade compliance initiative.

Danieli & C. Officine Meccaniche SpA is the parent company of Danieli Group, which ranks among the three largest suppliers of equipment and plants for the metals industry worldwide. Headquartered in North-Eastern Italy, Danieli Group includes more than 40 subsidiaries globally, with workshops and implementation projects across the world.

Seeking more comprehensive coverage to support current operations and future growth, Danieli decided to further enhance its compliance controls by implementing a state-of-the-art solution. The company chose Amber Road’s Restricted Party Screening solution, part of the comprehensive Export On-Demand solution that also includes product classification, export controls and export license management as standard modules.

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Topics: Export Compliance, Restricted Party Screening, Global Knowledge, Trade Compliance

New Executive Order Targets Restricted Parties in Libya

Posted by Nick Fabretti on Fri, Apr, 22 2016 @ 1:48 PM

On April 19, 2016, the President of the United States of America issued an Executive Order, “Blocking Property and Suspending Entry into the United States of Persons Contributing to the Situation in Libya.”

The president issued the below statement on Tuesday, April 19th in light of the new executive order.

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Topics: Document Management, Export Management, Export Compliance, Restricted Party Screening

[Aberdeen Group Report] Leveraging Global Trade Management for Frictionless eCommerce

Posted by Ryan Gudovitz on Tue, Apr, 12 2016 @ 9:00 AM

As globalization continues to cause the world to "shrink" and eCommerce rapidly spreads into every retail category, the requirements to source and manage a global supply chain also increase. Whether as part of its strategic direction or in order to keep up with the competition, there are few companies that do not have some type of eCommerce presence.

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Topics: Global Trade Management Software, Landed Cost Calculation, Global Trade Content, Transportation Management, Global Trade Management, Supply Chain Visibility, Restricted Party Screening, Global Supply Chain, Trade Compliance

Slavery Crops Up in the Global Supply Chain

Posted by Gary M. Barraco on Thu, Dec, 17 2015 @ 11:12 AM

Pervasive human trafficking has turned Thailand’s shrimp processing business into a $7 billion dollar industry. But now that human rights watchdogs have exposed the poor ethical practices in this country, grocers and restaurateurs worldwide are denying knowledge of the intolerable conditions workers must endure to produce the tasty morsels we have come to enjoy at a great price.

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Topics: Retail, Import Management, Supply Chain Visibility, Restricted Party Screening, Risk and Quality Management

Axalta Reduces Corporate Risk with Amber Road’s Export On-Demand Solution

Posted by Kelsey Barker on Thu, Nov, 12 2015 @ 9:46 AM

As companies grow and move into new global markets, their trade compliance risks expand alongside their growing customer base. Keeping up to date with import and export regulations and denied party screening can become manually intensive and inefficient. For those reasons, Axalta Coating Systems, a leading global coatings company, has started using Amber Road’s Export On-Demand solution.

Axalta develops, manufactures and sells a wide selection of performance and transportation coatings to more than 120,000 customers in 130 countries.  The company is enhancing its IT systems for ERP and other technology solutions to control costs and improve efficiency which included a search for a GTM solution deployed in a software-as-a-service (SaaS) module so they could implement very quickly and at minimal IT cost on a global basis.

“As our customer base continues to grow, we needed the ability to address compliance requirements globally and minimize risk without increasing headcount,” said Lisa Ross, director, global trade compliance at Axalta. “We found the solution in Amber Road’s platform. We look forward to reducing  risk and improving efficiencies as we expand.”

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Topics: Amber Road News, Export Management, Export Compliance, Restricted Party Screening