Know Your Customer.....and Everyone Between You

Posted by Mandy Hyde

Companies today are exposed to a plethora of risks because of the dynamic and collaborative nature of supply chains. While it's impossible to eliminate all the risks that may exist in the vast business ecosystem, it is possible to mitigate some of these dangers by implementing an export compliance program with a robust restricted party screening strategy.

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Topics: Export Management, Export Compliance, Restricted Party Screening

Cyber-Security Measures Should Include Supply Chain Vigilance

Posted by Eric Sternkopf

October is National Cybersecurity Awareness month, an important reminder to increasing supply chain resiliency with comprehensive denied party screening.

The supply chain is one of the most collaborative environments in an organization, making it one of the most vulnerable. Maintaining a technologically secure global trade environment--while still providing access to all necessary parties around the globe--can seem daunting in today’s fast-paced, digital world. Cybersecurity weighs heavily on the and it is easy to understand why. The speed and global reach of the May 2017 WannaCry ransomware event, which spread over 150 countries in hours, brought home to many companies the cyber risks of an extended supply chain.

Attacks like these, while necessary to defend against, aren’t the only risks companies face in the global supply chain. Companies often think only about securing their networks and digital assets against cyberattacks and breaches, but don’t always protect themselves against criminal entities lurking in the trade shadows.

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Topics: Export Compliance, Restricted Party Screening

Make No Mistake, Denied Party Screening & Sanctions Apply to Embassies Too

Posted by Gary M. Barraco

It’s always hot news when Amazon is referenced in a story, but this time the online retail marketplace giant is in hot water. In August 2017, the media reported that the US Securities and Exchange Commission filed an investigation into the company’s processing and delivery of thousands of dollars worth of orders of consumer products, (including jewelry, home and kitchen appliances and musical instruments), to individuals and entities connected with Iran. Amazon is being investigated for delivering orders to an Iranian embassy, as well as to an individual who may have committed, threatened to commit or supported terrorism.

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Topics: Export Compliance, Restricted Party Screening

GEODIS Selects Amber Road to Boost its Trade Compliance Capabilities

Posted by Kelsey Barker

European companies face increasingly complex global trade regulations, especially when ensuring compliance with global sanctions and embargo lists. That's why GEODIS, part of SCNF Logistics, decided that it needed an automated solution to screen its third-party trade partners. 

As a leading European transport and logistics provider with a worldwide network, GEODIS is dedicated to maintaining the highest level of trade compliance. Historically, verification of customers, partners and transactions was handled semi-independently in each of GEODIS’ five lines of business, with some oversight by the group Customs department. As part of its continual drive to improve standards while increasing efficiency, GEODIS looked for a way to automate and centralize those processes.

Using the Restricted Party Screening module in Amber Road’s Export On-Demand solution, GEODIS will be able to transform its screening processes, replacing numerous disparate and partial systems with a single system covering its worldwide operations.

“Solidifying our compliance systems allows GEODIS to grow in a more assured way, as it protects us from risky transactions and enables us to prove to customers that we are compliant with export control regulations,” said Bruno Beauvillier, Group Customs and Export Control Director at GEODIS. “We chose Amber Road because of its ability to maintain hundreds of lists, and the presence of a local Amber Road team in France gave us great value in supporting our decision process.”

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Topics: Export Management, Export Compliance, Restricted Party Screening

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

Posted by Gary M. Barraco

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

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

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

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

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

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