Amber Road’s 2012 user conference will be held October 14-16 in historic Georgetown, at the Fairmont Washington, D.C.
eVOLVE 2012 will be a great opportunity for Amber Road customers to exchange best practices with other users, provide feedback on product evolution, discover new products and initiatives, and hear about the latest developments in GTM from industry leaders such as William McNeill with the Gartner Group.
eVOLVE 2012 is an invite only event exclusive to Amber Road customers, partners and invited speakers. Register before June 30 to receive a 15% discount off the regular conference fee with our Early Bird Registration special.
Click here to register and to learn more about the eVOLVE 2012 conference. We hope to see you in October!
According to the Bureau of Industry and Security (BIS), ING Bank N.V. has agreed to forfeit $619 million to the Justice Department and the New York County District Attorney’s Office for illegally moving billions of dollars through the US financial system on behalf of Cuban and Iranian sanctioned entities. ING Bank is held responsible for conspiring to violate the International Emergency Economic Powers Act (IEEPA) and the Trading with the Enemy Act (TWEA), as well as violating New York state laws by illegally moving over $2 billion dollars through the US financial systems via more than 20,000 transactions between the early 1990s and 2007. This fine is the largest ever against a bank in connection with an investigation into US sanctions violations.
ING Bank executed this scheme through tactics including:
- eliminating payment data that would have revealed the involvement of sanctioned countries and entities
- advising sanctioned clients on how to conceal their involvement in U.S. dollar transactions
- threatening to punish certain employees if they failed to take specified steps to remove references to sanctioned entities in payment messages
Most upsetting is that these illegal activities occurred with the knowledge and encouragement of members of both the legal and compliance departments.
The bank has also entered a parallel settlement agreement with the Office of Foreign Assets Control (OFAC). As part of the agreement, ING will be required to conduct a full review of its policies and procedures to ensure that its compliance program is functioning effectively.
To read the entire Bureau of Industry and Security (BIS) press release, click here.
For information on Amber Road’s Restricted Party Screening solution, which enables companies to automate the screening process, click here.
Posted by Caroline
Categories: Denied Party
, Export Compliance
, Export Compliance Program
, Export Violations
, Restricted Party Screening
, Trade Compliance
| Tagged: BIS
, export violation
, ING Bank
, restricted party screening
, RPS On-Demand
, sanctioned entities
With the May 14th presidential proclamation putting the US-Colombia free trade agreement into force, it has never been more critical for GTM software users to understand the importance of the trade content that powers their solutions. Because FTAs specify changes in rules of origin and HS codes, it is important that organizations using global trade management software ensure that their vendor made the appropriate updates to the underlying trade content and put them in place immediately.
By having access to these trade content updates, organizations are able to find potential reductions in landed costs due to preferential treatment as of the effective date. Supply chain managers should be able to run scenarios that reflect preferential rates as they make sourcing decisions.
To learn more, click here to read the Supply Chain Digest article written by Anthony Hardenburgh, Vice President of Global Trade Content at Amber Road.
Join Amber Road and American Shipper on Wednesday, June 20 at 2pm EDT for a webinar that will discuss findings from the second annual Import Operations & Compliance Benchmark Study, published by American Shipper and BPE Global. Key topics will include:
- Regulatory compliance policies and practices
- Import operations management and outsourcing
- Supporting technologies solutions and functionality
- Organizational structures and policies
- Training and education
Panelists for The Secrets to Import Success: Best Practices in Managing Import Operations & Compliance include:
- Nathan Pieri, SVP, Marketing and Product Development, Amber Road
- Andrea Appell, Director, BPE Global
Click here to register.
Posted by Caroline
Categories: Amber Road
, Global Trade Management
, Import Compliance
, Import Controls
, Import Regulations
, Regulatory Compliance
, Trade Compliance
| Tagged: Amber Road
, American Shipper
, import compliance
, import operations
, Import Operations & Compliance Benchmark Study
Amber Road, a leading provider of Global Trade Management (GTM) solutions, announced today that seven of the top ten companies listed in the Gartner 2012 Supply Chain Top 25 use its solutions. This is an increase from 2011, when six of the top ten were Amber Road customers.
This is the eighth year that Gartner has compiled the list of supply chain innovators. According to the research firm, “Every year, Gartner identifies the companies that push the envelope of supply chain innovation.” They noted in the report that “many of this year’s Supply Chain Top 25 companies were impacted by natural disasters, such as the Japanese earthquake and tsunami, and the massive flooding in Thailand…Overall, leaders have remained focused throughout the past year on building resiliency into their global supply chains, and we see it continuing to be a highly valued supply chain characteristic.”
For more information on how the survey and research was conducted, visit The Gartner Supply Chain Top 25 for 2012. Click here to read the full press release.