Make Sure You're Complying with Export Control Laws
November 20, 2019 8:26 PM
Heightened export control vigilance, especially in the US, adds additional burdens to supply chain management. Yet, remaining oblivious to the need to have procedures in place can put you in a real bind.
Most cross-border transactions are pretty low risk. But when sanctioned countries such as Russia, North Korea, and Iran are unknowingly part of the mix, trouble lurks. One US company learned the hard way when it purchased fake eyelashes from a Chinese company, which had bought the lashes from a North Korean producer. The fine: $1 million is a huge black eye for this cosmetics company.
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