Navigating Economic Sanctions: Strategies for International Businesses
USA, Russia, EU, Europe, China and UAE are among many jurisdictions that have recently imposed economic sanctions on foreign companies and individuals, in response to alleged human rights violations, geopolitical tensions or breaches of international law. Any company...
Paypal issued £5M fine due to inadequate sanctions screening process
The US Treasury Department issued Paypal with a £5M fine after they had allowed payments which violated sanctions and involved links to weapons of mass destruction. Paypal failed to prevent the transactions due to a failed screening process, causing non compliance...
Fine time for pharma; why due diligence is important
Since the mid-1990s, regulatory expectations on the due diligence carried out in the pharmaceutical sector have become much more complicated. Drugs firms are subject to regulations laid out in the US Foreign Corrupt Practices Act and by the US Food and Drug Administration...