What to include, when they’re needed, and who does what. Electronic Export Information (EEI) filings are a critical part of export compliance, required for most U.S. shipments to foreign destinations. This webinar offers a comprehensive overview of EEI filings, explaining when and how to file, the importance of accuracy, and the potential consequences of non-compliance. We’ll dive into the specific requirements, common pitfalls, and best practices for ensuring that your EEI filings are timely and correct, helping you avoid costly errors and penalties.
BIS: New York Semiconductor Firm Shipped $17.1 Million in Wafers to Entity List Company
BIS: New York Semiconductor Firm Shipped $17.1 Million in Wafers to Entity List Company
November 8, 2024/
BIS has imposed a civil penalty of $500,000 on GlobalFoundries US. GlobalFoundries is a semiconductor manufacturer in New York, and they shipped ~$17.1 million in semiconductor wafers to a company on the BIS Entity List without licenses. They voluntarily disclosed, cooperated with the investigation, and took remedial issues after discovery.
Related Posts
CBP: Section 321 Enforcement Update in ACE to Block Ineligible De Minimis Shipments
CBP is enhancing Section 321 enforcement within ACE to ensure compliance with the $800 de minimis threshold. Starting June 26, the update will be deployed to the CERT environment. This enhancement will prevent the release of shipments claiming de minimis entry when the $800 per person per day limit has already been exceeded, helping to…
OFAC: GVA Capital Fined $216M for Russia Sanctions Violations
The Office of Foreign Assets Control issued a penalty notice for almost $216M on GVA Capital Ltd. They’re a venture capital firm in California. This is for violating the Russia sanctions and failing to comply with a subpoena. Read More
Justice: DOJ Declines to Prosecute PE Firm After Voluntary Disclosure of Export Violations
The United States Department of Justice declined to prosecute a private equity firm after they discovered criminal violations of export laws that one of their acquired companies had committed and disclosed them voluntarily. Read More
DOJ: Crypto Exec Indicted for Laundering Millions Through U.S. Banks
The United States Department of Justice unsealed an indictment against Iurii Gugnin, owner of cryptocurrency company Evita, for funneling > $500 million of payments through US banks / crypto exchanges while hiding the source and purpose of the transactions. Read More