Compliance for Importers and Exporters

As importers and exporters, you are expected to understand and comply with International Trade Compliance, Import/Export Global Trade Compliance and Global Trade Management regulations set forth by the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) and the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC).

Responsible for administering and enforcing economic and trade sanctions, ensuring compliance with U.S. export laws and regulations, and protecting the security of the United States in regards to national and economic security and foreign policy, these government agencies continue to create new guidelines and regulations for companies like you.

The fines for violations of the statutes administered by OFAC and BIS can be substantial. Criminal penalties can include fines ranging from $50,000 to $10,000,000 and imprisonment ranging from 10 to 30 years for willful violations. Civil penalties range from the greater of $250,000 or twice the amount of each underlying transaction to $1,075,000 for each violation.

How can your business ensure compliance with U.S. export laws and regulations and avoid penalties like these?

• The U.S. Department of State’s Directorate of Defense Trade Controls strongly advises the implementation of a compliance program for registered exporters and manufacturers.
• Importers and exporters should be engaged in Restricted Party Screening against the following prohibited Restricted Party Lists:
  • Debarred List
  • Denied Persons List
  • Entity List
  • Nonproliferation Sanctions
  • Specially Designated Nationals List
  • Unverified List
• Trade businesses should understand and comply with all U.S. trade sanctions and operate within their bounds including:
  • ITAR 126.1 Countries
  • U.S. Department of Commerce, Embargoed Countries
  • U.S. Department of Commerce: Embargoed Countries
  • U.S. Department of State, DDTC Country Policies and Embargoes
  • U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC), Country Sanctions
• The master list of SDNs contains over 5,000 entries--variations on the names of individuals, companies, vessels and banks all over the globe. Importers and exporters should have the tools they need to ensure a compliant business.

The CSI compliance division has been serving the needs of the trade compliance industry since 1998, and our WatchDOG® Pro solution will help you scan against all lists required by the Bureau of Industry and Security and the Office of Foreign Assets Control, as well as many others.

Avoid government fines and increase your protection from fraud. Know your customers and reduce your risk. To request a demonstration or free trial of any of these solutions, call 888.494.8449.