Compliance executives at companies conducting business internationally may want to add a check of their import-export compliance policies to their to-do list. You might have more work to do on that front than you think.
It’s well known that import-export compliance is tricky. Several different federal agencies enforce the rules, the rules themselves are complicated and change constantly, and, with security and safety concerns top of mind among regulators, penalties for non-compliance are steeper and more common than ever.
“The government obsession with post-9/11 counter terrorism has created a more difficult climate for companies to conduct international business successfully,” says Peter Quinter, ...