Foley & Lardner cautions companies subject to U.S. jurisdiction that regulators with the current administration intend to enforce laws governing international activities with vigor. Such companies should evaluate whether their compliance measures are sufficient to detect and halt potential violations of various U.S. international regulations, including FCPA, ITAR, EAR, OFAC regulations, and the various anti-money laundering laws.
They detail a 12-step “Program for International Compliance” with the following outline:
- Secure Buy-In at the Top
- Perform a Risk Assessment
- Survey Current Controls
- Identify Available Resources
- Assess Local Oversight
- Create a Written Compliance Policy
- Establish Internal Controls
- Training, Training, Training
- Integrate Outsiders
- Auditing and Checkups
- Monitor Red Flags
- Communicate with Board & Senior Management
