In recent years, U.S. companies have become increasingly concerned that voluntary self-disclosures could lead to stinging agency investigations and severe penalties.
Mike Turner, director of BIS's Office of Export Enforcement, believes industry fears of heavy-handed agency action against those companies making self-disclosures are mostly unfounded.
At a meeting of the Regulations and Procedures Technical Advisory Committee (RPTAC) on Tuesday, Turner said about 95 percent of self-disclosures conducted by BIS between 2004 and 2006 resulted in no monetary penalties, and half of those were cleared of wrongdoing altogether and the other half received only warning letters. 'Only 5 percent resulted in penalties,' Turner said.
Turner said BIS's biggest concern is targeting export activities associated with weapons of mass destruction, terrorism and diversion of items to military end-use.
'Our responsibility is to make tools available to enable compliance,' he told the RPTAC members. 'You'll be a seeing a lot more from us about this.'
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now