United States Jurisdiction and Abroad
One of the challenges global businesses face is trying to determine whose jurisdiction they are under. In the United States, primary jurisdiction over export controls lies with the State Department, the Department of Commerce, and the Treasury. These are the main agencies, but there may be others you have to deal with depending on which industry you are in.
Depending on your business, U.S. law maybe only half of the story. If your business exports goods or services from another country, you may be subject to their export controls as well. In that case, you need someone who knows that country’s regulatory framework so that your business can proceed without interruption.
What Wellfleet Strategies Offers
Economic sanctions and export controls are a sophisticated environment with consequences that can be disastrous if you’re not careful. Our team of industry professionals is proud to offer a full complement of services to help you meet these challenges:
- Development and implementation of compliance programs
- Conduct internal audits and investigations
- Licensing support
- Independent monitoring
- Enforcement response and crisis management
Our people bring decades of experience and knowledge to every client we work with. We will identify the potential issues you face, develop and analyze possible alternatives and strategies, and formulate a solution that meets the regulators’ requirements and helps move your business forward.
Understanding the Cost of Non-Compliance
An export violation can result in both civil and criminal penalties, which can be multiplied by the number of violations. This can result in hundreds of thousands of dollars in penalties, perhaps more, and essentially bankrupt your business. In addition to fines, you could even face incarceration.
The best course of action is to avoid the violation in the first place. However, violations do happen, even if you had no intention of breaking the law. If you’re facing a potential violation and are worried about enforcement, we can guide you through the process to minimize your exposure. If you’re already under investigation, it’s not too late. Enforcement agents can be extremely aggressive. Our people know how to handle them and can help you get a fair result.