AeroTurbine Ramps up Restricted Party Screening Protection and Efficiency

Posted by Kelsey Barker on Tue, Sep, 22 2015 @ 10:59 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. With this situation in mind, AeroTurbine, Inc. has selected the Amber Road restricted party screening (RPS) solution in order to upgrade its compliance processes.

AeroTurbine is a global aviation company specializing in supply chain management solutions, the sale and lease of aftermarket commercial engines, aircraft and parts, technical advisory services and aircraft maintenance to its customers located around the world.

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Topics: Export Compliance, Restricted Party Screening

How Does JACOBS DOUWE EGBERTS Reduce Risk for its Worldwide Coffee & Tea Business?

Posted by Kelsey Barker on Tue, Sep, 1 2015 @ 1:00 PM

Trade regulations and restricted party lists are constantly changing, and many global companies now realize that automated, reliable restricted party screening is an essential part of any comprehensive compliance program. With this insight in mind, global coffee and tea company JACOBS DOUWE EGBERTS has signed a worldwide contract for an automated restricted party screening (RPS) solution.

JACOBS DOUWE EGBERTS is in the process of developing a global corporate compliance strategy and has targeted restricted party screening as the first step towards comprehensive protection.

As one of the world’s largest pure-play coffee and tea companies, Netherlands-headquartered JACOBS DOUWE EGBERTS is the center of an extensive global supply chain. It holds market-leading positions in 18 countries globally as well as a strong emerging market presence. This adds up to hundreds of thousands trading partner entities, all of which will be screened by the Amber Road Restricted Party Screening solution.

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Topics: Import Compliance, Export Compliance, Restricted Party Screening

U.S. and Iran Take a Step Towards Lifting Trade Sanctions

Posted by Fariba Ahdoot on Wed, Jul, 15 2015 @ 2:32 PM

On July 14, 2015, The United States, Iran, Britain, France, Germany, Russia and China reached a Joint Comprehensive Plan of Action to limit Iran’s nuclear program. In exchange, Iran will get billions of dollars in relief from crushing international trade sanctions. Under terms of the deal, "Iran must dismantle much of its nuclear program in order to secure relief from biting sanctions that have battered its economy."

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

Electrocomponents Expands Export Management with Amber Road

Posted by Lisa Feroli on Wed, Jul, 1 2015 @ 10:45 AM

Electrocomponents plc, one of the largest distributors of engineering products, has selected Amber Road’s Trade Automation Export Management solution to expand the Electrocomponents Group’s trade management reach and capabilities, enabling automated product classification, license determination and management and landed cost analysis. With this, the existing automated restricted party screening will become a seamless part of the Group’s overall trade management processes. The full Amber Road solution will be integrated with the Electrocomponents ERP system and deployed across the global supply chain.

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

Top 5 Best Practices in Export Control Audits for 2015

Posted by Fariba Ahdoot on Wed, Jun, 24 2015 @ 12:43 PM

Today’s supply chains are increasingly complex, and companies must manage risks both proactively and reactively to avoid disruptions such as quality issues, shipment delays, product shortages, and excessive expediting costs. Last month, Amber Road attended WIT-NC’s seminar, Best Practices in Export Control Audits for 2015, in Sunnyvale, CA. This event focused on the gold standard for export control audits in a post ECR and cloud computing world. Supply chain professionals attended the full day seminar to determine whether the principles of the Nunn-Wolfowitz Task Force Report of Industry Best Practices Regarding Export Compliance Programs, published in 2000, are still the gold standard for export control audits today.

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

Marine Harvest Ramps-up Restricted Party Screening with Amber Road

Posted by Lisa Feroli on Wed, May, 20 2015 @ 11:01 AM

Marine Harvest ASA, one of the largest seafood companies in the world, and the world’s largest producer of Atlantic salmon, has selected Amber Road's automated Restricted Party Screening Solution to monitor its worldwide trading partners.

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Topics: Amber Road News, Restricted Party Screening

Tüpraş Optimizes Restricted Party Screening with Amber Road

Posted by Lisa Feroli on Wed, May, 6 2015 @ 3:06 PM

Tüpraş A.S. (Turkish Petroleum Refineries Co.), Turkey's largest industrial enterprise, is now using Amber Road's automated restricted party screening solution, following a six week implementation.

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

PayPal Down $7.7 Million in Fines for Violating U.S. Restricted Party Sanctions

Posted by Lisa Feroli on Thu, Apr, 23 2015 @ 3:53 PM

Everyone’s favorite online payment platform has found themselves in a bit of trouble, as the company was fined by the Treasury Department’s Office of Foreign Assets Control (OFAC) $7.7 million for 486 sanctions violations. PayPal is just one in a list of companies who have violated trade sanctions, highlighting the importance U.S. Officials put on restricted party screening and strict compliance with these regulations.

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

Amber Road Now Screens Over 300 Restricted Party Lists

Posted by Lisa Feroli on Mon, Apr, 20 2015 @ 3:03 PM

On April 1st 2015, President Obama signed an Executive Order (Executive Order 13694), “Blocking the Property of Certain Persons Engaging in Significant Malicious Cyber-Enabled Activities.” Because of this order, Amber Road now officially screens against over 300 restricted party lists!

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

Commerzbank Slammed with Anti-Money Laundering Fines

Posted by Lisa Feroli on Tue, Mar, 17 2015 @ 2:49 PM

According to a recent Reuters article, Commerzbank AG, Germany’s second largest lender, has been ordered to pay $1.45 billion to U.S. authorities. This large fine comes after Commerzbank was accused of laundering money through the United States financial system on behalf of black-listed entities – a big mistake in the eyes of U.S. prosecutors. This signifies the importance U.S. Officials put on restricted party screening and strict compliance with these regulations.

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Topics: Export Management, Restricted Party Screening, Export Violations