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What are the key compliance issues or pitfalls relating to international trade?

Import
Business and Industry Services
From United States of America
To Canada
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Jacob C.
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Aug 30, 2019
What are the key compliance issues or pitfalls relating to international trade?

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Aug 30, 2019
First of all I want to say that the main compliance risks still flow from US regulators and the relevant laws (FCPA/OFAC/export controls). Those are still the most energetically enforced and extra-territorially so. In the past five years, OFAC risks in particular have increased manifold as the number of countries embargoed has increased, but also as the programs have broadened in number – to include human rights violators – and in complexity, particularly the financial sanctions that are the heart of the Ukraine and Venezuela sanctions. These programs now can easily tie a company up in knots when it comes to understanding what is permissible and trying to understand who it is doing business with. Third party OFAC and FCPA risks are some of the most serious and hard to mitigate challenges.
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