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Post By: Adam Turteltaub
Few areas of compliance change as rapidly as export controls. People, companies and even countries move on and off the sanctions list. Adding to the complexity, as Matt Silverman, Senior Manager, Compliance & Export Control at ASML explains, is the challenge that an export control violation isn’t about simply shipping goods to someone or somewhere you shouldn’t. Even a conversation, plant tour or the wrong hire can be a violation.
So, how do you stay on top of this issue?
For one, you need a good source of data on who and what entities are on the sanctions list. There are multiple sources that need to be checked regularly includes the Department of Commerce Bureau of Industry and Security (BIS) and Department of State. Plus you will likely need a good vendor with a database of prohibited persons, along with subscriptions to several email lists. And, it doesn’t hurt, as he has done, to join a network of export compliance pros who share the latest information.
Second, it’s critical to work with the business unit to help them understand both the complexities and the need to proceed with caution. At the same time the compliance team needs to stay involved and utilize creative problem-solving skills.
One other discipline, he explains, has to be involved in managing this risk: HR. Hiring a non-US person to work in the company in a sensitive position may be a deemed export and a violation of law. At the same time, though, the company has to be mindful of anti-discrimination laws.
Listen in to learn more about how to manage this complex, ever-evolving risk area.