International Trade & Transport Compliance
Take the complexity out of compliance
A solution that helps organizations to easily demonstrate compliance with international trade, transport and financing regulations.
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Today's challenges
International Trade and Transport is complex due to the involvement of several parties in multiple countries, regulations, and government agencies that govern different aspects of the transaction. Failing to address and properly apply international trade compliance can result in hefty fines.
Fines for export violations, including anti-boycott violations, can reach up to…
...per violation in criminal cases, and $250,000 per violation in most administrative cases.
For violations under the Office of Foreign Assets Control, a civil penalty can reach up to…
...per violation under the regulations.
willful violations of the defense controls can be fined up to…
...per violation, or ten years of imprisonment, or both.
International trade regulations are changing constantly. The only way to interpret with constantly changing rules and regulations is to make sure it is applied at all times. The whole chain will become and stay compliant.
Data is dispersed across the supply chain. The nature of international trade and transport has resulted in vast amounts of data created from various distributions. At the moment, it is overwhelming and dispersed across the supply chain, resulting in incorrect insights, even increasing the level of risk.
No integrated solution that vets transactions and requires attention when necessary while automatically creating a complete audit trail of all transactions.
Keeping up with changing sanctions and export regulations
Government agencies constantly publish regulations, sanctioned entities, and politically exposed persons. The only way to interpret changing rules and regulations is to make sure they are applied at all times.
Overseeing the content of all shipments
Airlines are obliged to know the content of all shipments onboard and check the content and parties involved against the applicable legislation.
Coping with the screening complexity
Checking shipments against applicable lists and demonstrate that all appropriate approvals, licenses, or exemptions are in place. However, this is still a manual and knowledge-intensive process that requires specific compliance expertise.
Data is dispersed across the supply chain
The nature of international trade and transport has resulted in vast amounts of data created from various distributions. At the moment, it is overwhelming and dispersed across the supply chain, resulting in incorrect insights, even increasing the level of risk.
Reputational damage and jail time for employees
Failure to comply with these regulations can lead to civil and criminal penalties for airlines and their staff, removal from trusted trader programs, and loss of business.
International Trade & Transport Compliance Solution
(ITTS)
ITTS
To overcome today’s challenges, we have developed ITTS. It enables organizations to automatically check international trade and transport transactions for potential compliance issues, support staff in resolving problematic transactions while automatically building an audit trail to evidence this to regulators. The solution can define organization policies and clarify critical international travel and international transactions elements (who, what, where, and why) for compliance.
• What is being traded or transported (goods, quantities, people)?
• Who is involved in the transaction (consigner, consignee, agent, financier, insurer, carrier)?
• Where, from which country, via, and to which country?
• Why, what is the intended end-use of the transaction?
Air Cargo
Understanding the challenges in the Air Cargo industry, we have tailored ITTS to the specific needs of our clients. Our solution deals with a rapidly changing landscape and gets a grip on regulations, duties, and import/export controls.
Customs & Civil Authorities
ITTS enables customs agencies to check international trade and transportation transactions for potential compliance issues, assist staff in resolving problematic transactions, and create an audit trail to demonstrate to regulators.
