Weekly Compliance News - Around the World

GCSG's Weekly Compliance News feature is a compilation of some of the previous weeks interesting trade compliance, anti-bribery and corruption, fraud, and due diligence news bites, from around the world.

US Court of International Trade Upholds Constitutionality of President’s Power | Lexology

“On March 25, 2019, the U.S. Court of International Trade denied a challenge to the constitutionality of Section 232 of the Trade Expansion Act of 1962 in a lawsuit brought by the American Institute of International Steel and other steel importers.“ (Click here for the article) - Global

Ukraine: Court Ruling on Law Means End for Corruption Cases | ABC News

“Ukraine's Constitutional Court has struck down a law against officials enriching themselves, a move that raised concerns about a weakening of the country's fight against endemic corruption and ability to get more aid from the International Monetary Fund.“ (Click here for the article) - Ukraine

The Risk of Solely Relying on Auditors to Find Fraud | FCPA Blog

“Kick-back schemes, corrupt employees, and violations of your code of conduct are all risks facing businesses every day. To combat these threats, companies often rely on auditors to protect them. But are auditors really the answer? The The Association of Certified Fraud Examiners found in 2018 that 53 percent of occupational fraud is detected by employees.“ (Click here for the article) - Global

The Real Risks of Doing Business in Russia | Klink

“Every day there is a new story on corrupted power in Russia and the United States’ efforts to combat it. We know the key players - oligarchs who acquired government assets after the fall of the Soviet Union. The key question is how do we properly protect US business and political interests?“ (Click here for the article) - US, Russia

New Data Breach Trends: Small Business Identity Records Now #1 Target | CPO Magazine

“A new report by leading cybersecurity and intelligence firm 4iQ is providing the tech world with some eye-popping perspective. This study is of particular interest to small businesses, because it confirms that they are now the favored target of cyber criminals.“ (Click here for the article) - Global

OFAC Designates Iranian Sanctions Evasion Network | EU Sanctions

“OFAC has imposed sanctions on 25 individuals and entities, which comprise a network of front companies based in Iran, the UAE and Turkey used by “the Iranian regime to illicitly move more than a billion dollars in funds” and provide funding to the Islamic Revolutionary Guard Corps and Iran’s Ministry of Defense and Armed Forces Logistics.“ (Click here for the article) - Iran, United Arab Emirates, Turkey

OFAC Agrees $1.86 M Settlement with Stanely Black & Decker | EU Sanctions Blog

“OFAC has announced a $1,869,144 settlement with Stanley Black & Decker and its foreign subsidiary Jiangsu Guoqiang Tools to settle its potential civil liability for 23 apparent violations of the Iranian Transactions and Sanctions Regulations.“ (Click here for the article) - Iran, US

Celebrity Parents and Coaches Charged in Vast College Bribery Scheme | Bloomberg

“Wealthy parents, university coaches and a college-admissions counselor were among dozens charged in a sweeping criminal conspiracy that sought to help applicants win admission to elite schools including Yale, Stanford, UCLA and Georgetown.“ (Click here for the article) - US