- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Julie DiMauro2022-06-16T11:23:00
With the Russia-Ukraine war’s ever-expanding sanctions landscape, supply chain strain and risk of enforcement are sharply increasing. Speakers at a recent event hosted by Drexel University’s Kline School of Law offered best practices.
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All companies with a global footprint should be reevaluating their supply chain due diligence and documentation practices to show the absence of forced labor in the wake of the Uyghur Forced Labor Prevention Act taking effect.
The Financial Crimes Enforcement Network and Bureau of Industry and Security warned financial institutions to be on the lookout for new and novel ways individuals and entities in Russia and Belarus are attempting to evade export controls.
Melanie Gallagher, head of third-party risk management at financial software company Intuit, offered best practices for navigating sanctions compliance risks at CW’s TPRM Summit in Chicago.
A U.S. Senate report found three European automakers—Volkswagen, BMW, and Jaguar Land Rover—sold cars in the United States with parts sourced from a supplier suspected of using forced labor from China’s Xinjiang region.
It’s been nearly two years since the Uyghur Forced Labor Prevention Act took effect, and as enforcement statistics and recent reports demonstrate, many businesses are still not adequately vetting their supply chains.
Rooting out potential child or forced labor violations in your company’s supply chain can have benefits beyond protecting reputation and being ethically sound. The process can also help your firm comply with pending child labor laws in other jurisdictions.
