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Sanctions and The Supply Chain: Basic Steps to Protect Yourself

December 20, 2017 | Compliance Risk + Compliance

As the sanctions landscape becomes more complex and enforcement efforts expand across an array of federal agencies, it is increasingly necessary to regularly evaluate supply chain and trade operations to ensure companies are meeting their compliance expectations. The problem is compounded as the information technology landscape grows more robust and suppliers and buyers can be screened in real time, as well as the related parties within the transaction.

Sanctions compliance is predicated on strict liability, meaning no set of actions … Read More

Sanctions Compliance Requires More Than a Filter

December 7, 2017 | Compliance Risk + Compliance

As we detailed in our last post, sanctions compliance is becoming increasingly difficult because the amount of data companies ingest is increasing, and because both OFAC and prominent regulators such as the New York State Department of Financial Services and the Monetary Authority of Singapore (MAS) have clearly articulated that simply screening transactions is not sufficient.

The sanctions program that addresses the threat of North Korea, or the Democratic People’s Republic of Korea, effectively highlights the regulators’ expectations. … Read More