All Bureau of Industry and Security articles
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News BriefWhite House, BIS attempt to strengthen AI chip export controls in final days of Biden presidency
In tandem with the Commerce Department’s Bureau of Industry and Security, the Biden administration issued a new rule on export controls of domestically produced artificial intelligence chips.
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News BriefBIS issues export control guidance to academic research institutions
The Commerce Department’s Bureau of Industry and Security issued guidance to academic research institutions on trends in voluntary self-disclosure to improve export control compliance.
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News BriefDOJ orders PetroChina unit to pay $14.5M over export control violations
PetroChina International America agreed to pay a fine and forfeiture of $14.5 million to settle charges with the Department of Justice that it violated U.S. export control laws.
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PremiumBIS’s Axelrod makes plea to financial services: ‘We want to work with you’
Matthew Axelrod, assistant secretary for export enforcement at the Bureau of Industry and Security, addressed efforts to reach financial services firms, working with the Financial Crimes Enforcement Network, and more during his fireside chat at CW’s Financial Crimes Summit.
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News BriefAirbus U.S. unit dinged by BIS for antiboycott violations
Satellite communications company Airbus DS Government Solutions received a reduced penalty from the Bureau of Industry and Security for admitting self-disclosed violations of antiboycott regulations.
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News BriefDXC Technology says no penalties on self-disclosed Russian sanctions matter
IT services company DXC Technology disclosed it received word from the Office of Foreign Assets Control and Bureau of Industry and Security that it won’t be penalized regarding potential Russian sanctions/export control violations it voluntarily self-disclosed in 2022.
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OpinionFive reasons I’m excited for CW’s Financial Crimes Summit
Compliance Week’s Financial Crimes and Regulatory Compliance Summit will feature more than 50 prominent speakers representing government agencies, regulators, banks, investment advisers, and more tackling the top-of-mind risk areas facing the financial services industry.
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News BriefBIS rule expands export control restrictions on OFAC sanctioned entities
The Bureau of Industry and Security adopted a final rule to extend its export restrictions across more entities and individuals designated under certain sanctions programs maintained by the Office of Foreign Assets Control.
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News BriefU.S. agencies issue ‘know your cargo’ transport compliance note
Five agencies of the U.S. government combined to issue best practices guidance for entities in the maritime and other transportation industries to help reduce risk of sanctions and export control violations and evasion efforts.
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News BriefFinCEN analysis: Trends in Russia export control evasion attempts
Analysis of suspicious activity reports by the Financial Crimes Enforcement Network indicates nearly $1 billion in suspicious activity in cases of suspected evasion of Russia-related export controls.
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PremiumCommon sanctions compliance trip points from 2023 enforcement cases
Penalties against companies including British American Tobacco, Wells Fargo, and Microsoft demonstrate the multiple ways in which businesses can run afoul of U.S. sanctions—an area receiving increased scrutiny by regulators.
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News BriefGuidance sets self-disclosure expectations for sanctions, export control lapses
Companies seeking credit for voluntarily self-disclosing potential violations of sanctions or export control laws must be mindful of the regimes at play from agencies including the DOJ, BIS, and OFAC and their differing expectations.
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News BriefDXC Technology self-reports possible Russian sanctions violations
DXC Technology Company disclosed it might have violated U.S. sanctions and export controls against Russia in its sale of a Russian subsidiary.
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News BriefU.S. reinvigorates anti-Russia push with new sanctions, guidance
The United States once again ratcheted up sanctions against Russia in an attempt to further choke off the funds and military supplies the country is using in its war against Ukraine.
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News BriefEx-Apple engineer charged with theft of trade secrets in DOJ sweep
A new strike force co-led by the Department of Justice and Commerce Department made an impact when charges against a former Apple engineer for theft and attempted theft of trade secrets were included as part of its first enforcement actions.
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OpinionRecord Seagate enforcement a reminder it doesn’t matter if you think you’re right
Not knowing with certainty whether the business you’re conducting meets all relevant regulatory standards is a recipe for trouble, as Seagate learned in paying $300 million for its restricted dealings with Chinese telecom Huawei.
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News BriefSeagate fined record $300M over export business with Huawei
Seagate will pay the largest stand-alone administrative penalty in the history of the Commerce Department’s Bureau of Industry and Security for violating export control restrictions against Chinese telecommunications giant Huawei.
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News BriefBIS updates voluntary self-disclosure policy to punish not coming forward
The Commerce Department’s Bureau of Industry and Security updated its guidelines to further clarify the advantages of voluntary self-disclosure to the agency when export control violations are uncovered.
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News BriefMicrosoft to pay $3.3M to settle sanctions, export control violations
Microsoft will pay more than $3.3 million to settle charges from the Office of Foreign Assets Control and Bureau of Industry and Security its subsidiaries violated sanctions laws and export controls across their dealings in four sanctioned countries and Ukraine’s Crimea region.
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News BriefU.S. authorities list red flags for sanction evasion by third parties
The Bureau of Industry and Security, Office of Foreign Assets Control, and Department of Justice issued guidance to highlight common methods bad actors use to evade sanctions and export controls on Russia and how to spot their use.