Compliance Issues

Sales

Trade compliance violations can pose major threats to revenue.

For any company, nothing can damage sales like a major trade compliance violation that hits the 6 o'clock news. Who wants to do business with a company that puts America and its allies at risk? The market consequences of non-compliance with foreign trade regulations easily rival the regulatory fines, denial of export privileges and other penalties.

All companies need to ensure they aren't selling to individuals or entities on the Department of State's Office of Foreign Assets Control (OFAC) list of Specially Designated Nationals (SDN). No one wants to be caught dealing with terrorists, major drug traffickers or weapons proliferators—aside from the penalties and possible jail terms, the damage to reputation is often enough to sink an organization.

Protecting against violations requires continual screening

How do you protect your company from violating of one of the many foreign trade regulations—with all its consequent penalties and reputational damage? more +

Screening needs to be fast, accurate and non-intrusive

No-one wants to bring their operations to its knees with screening systems that are ineffective or inefficient, generating too many false positives and creating other compliance and business burdens as a result of inadequate integration with their corporate systems, or less than current, accurate or comprehensive content.

Other issues for companies in the Controlled Goods space

For companies dealing with controlled goods there are other trade compliance issues of pressing concern: more +