Webinar Q&A: US Trade Policy Is Changing Rapidly - and So May Your Job!

Posted by Kelsey Barker

After laying dormant for almost thirty years, US trade policy has been swept up in a whirlwind of change. Last month’s Global Trade Academy webinar explored the pitfalls associated with these trade policy changes and recommended best practices to protect you and your company. You can find this webinar, US Trade Policy Is Changing Rapidly - and So May Your Job! on-demand here.

Global Trade Academy is hosting a second webinar in this regulatory update series tomorrow, July 12, at 2PM: Como está? Zěnmeliǎo? What’s happening? Trade Legislation Changes Around the World – Translated! Tune in to discover how US policy changes are affecting trade legislation around the world.

Viewers came armed with several questions about product classification, Drawback, the exclusion process, and more, and while our presenter Robin Grover answered many of your questions, we ran out of time to address them all. Luckily, Robin has compiled all his answers in this post.  

Read More

Topics: Amber Road News, Webinars, Export Violations

Amber Road and Dow Jones Partner to Deliver Expanded Restricted Party Screening Capabilities

Posted by Kelsey Barker

Today, Amber Road announced a new partnership with Dow Jones Risk & Compliance to offer enhanced Restricted Party Screening (RPS).

Read More

Topics: Restricted Party Screening, Export Violations, Export Compliance, Import Compliance, Global Knowledge, Global Trade Content

Missing the BIS Update Conference This Year? Catch Our Key Takeaways!

Posted by Paris Riley

Are you unable to make it to this year’s Bureau of Industry and Security (BIS) Update Conference in Washington, DC? Or will you make it to Washington, DC, but would like a review of the themes and updates from the show?

Read More

Topics: Export Violations, Export Management, Export Compliance, Automated Export System (AES) Filing

Export Control Violation Leads to Billion Dollar Penalty

Posted by Joseph Gabro

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

Read More

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

Even the eCommerce Giants Lack Export Control Processes

Posted by Gary M. Barraco

Amazon.com has dominated the eCommerce industry since 1995, originating as an online reseller of books.  During Amazon’s first month in business, it received orders from customers in 50 U.S. states and 45 countries across the world.  Today, the company offers over 183 million products and serves more than 224 million customers. 

Read More

Topics: Export Management, Export Compliance, Export Violations, Export License Management, Product Classification

Iranian Sanctions and the Challenge of Getting Paid

Posted by Arne Mielken

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. 

Read More

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

Commerzbank Slammed with Anti-Money Laundering Fines

Posted by Lisa Feroli

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.

Read More

Topics: Export Management, Restricted Party Screening, Export Violations

U.S. Imposes Sanctions Against North Korea in Response to Cyber-Attack

Posted by Fariba Ahdoot

On January 2, 2015, President Obama signed a new Executive Order imposing additional sanctions against North Korea. This came in response to North Korea’s numerous provocations, in particular the cyber-attack on Sony Pictures Entertainment.
Read More

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

Fokker Services Fined $21 Million for Export Control Violations

Posted by Colleen Bush

“I’m watching you.” Just as Robert De Niro warned Greg Focker in Meet the Parents, Fokker Services should have realized that the U.S. government was watching too. By doing so, it could have avoided a $21 million fine for exporting U.S.-made goods to Iran, Sudan, and Burma in violation of trade sanctions.

Fokker Services, a subsidiary of the Dutch aerospace company Fokker Technologies Holding BV, admitted to more than 1,100 shipments of banned aircraft parts, technology, and services to sanctioned countries between 2005 and 2010. The $21 million fine represents the value of these transactions.

Read More

Topics: Export Management, Export License Management, Export Compliance, Export Violations

Company Fined $5.9M For Failing to Obtain Required Export Licenses

Posted by Colleen Bush

Talk about a Cuban Export Crisis….CWT B.V., a Dutch travel agency, has been fined $5.9M by the U.S. government for violating the trade embargo to Cuba. CWT’s violations took place from August 8, 2006 to November 28, 2012 and involved trips to Cuba by 44,430 people.

But why, you might ask, is a Dutch company getting fined by the U.S. government? In 2006, CWT became majority-owned by U.S. entities and thus subject to the U.S. Trading With the Enemy Act. CWT continued doing business with Cuba, but without obtaining the necessary licenses issued by Treasury’s Office of Foreign Assets Control (OFAC).

Read More

Topics: Export Management, Export License Management, Export Violations

Cookie Settings