Germany’s Second-Largest Bank to Pay Settlement of $600-$800 Million for Violating Sanctions

Posted by LizAnn Nealing on September 15, 2014

Commerzbank AG, the second-largest bank in Germany, is expected to pay $600-$800 million in fines as restitution to the U.S as a result of their dealings with Iran and other nations under U.S. sanctions. The U.S. started looking into Commerzbank back in 2010 and has since found that the bank took down identifying information from incoming wires in an attempt to hide anything that would raise questions.

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Topics: Export Management, Restricted Party Screening, Export Violations

Intevac Reaches $115,000 Settlement with BIS for Deemed Export Violations

Posted by Colleen Bush on March 18, 2014

The Bureau of Industry and Security (BIS) has reached a $115,000 civil settlement with tech company Intevac, Inc. They committed five violations of the Export Administration Regulations (EAR), the first of which occurred in 2007, when Intevac released sensitive material to a Russian national employee for a product used in hard disk drive manufacturing. Intevac did not have the deemed export license required to release the information to that employee and thus, violated the regulation.

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Topics: Export Management, Deemed Exports, Export Violations

University Export Compliance

Posted by Caroline Brown on June 28, 2010

Today's post is courtesy of Nathan from GTM Best Practices Blog:

When most people think of export compliance, images of large multinational corporations come to mind. Universities are in the business of education and they don’t sell products, so why would a university need export compliance procedures?

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Topics: Export Management, Deemed Exports, Export Compliance, Export Violations

Protect Your Professors (who might think they are above the law)

Posted by Nathan Pieri on March 15, 2010

When most people think of export compliance, images of large multinational corporations come to mind. Universities are in the business of education and they don't sell products, so why would a university need export compliance procedures?

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Topics: Export Management, Deemed Exports, Export Compliance, Export Violations

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