BIS Discusses Enforcement Trends at PECSEA Meeting
The President's Export Council Subcommittee on Export Administration (PECSEA) met yesterday in Washington, DC. During the discussion of enforcement activity, BIS indicated that this year there have been 29 criminal actions, resulting in $7.7 million in fines. They have also brought 63 civil enforcement actions, which have resulted in $6.2 million in fines. If the current trend continues, the total number of cases brought this year will surpass last year's total and will result in almost double the amount of fines imposed. BIS has seen a dramatic increase in voluntary self-disclsoures (VSDs). Last year there were a total of 75 VSDs submitted to BIS. There have already been 136 VSDs submitted in 2005. If the current trend continues, the total number of VSDs will be more than double last year's total. BIS strongly encourages the filing of VSDs as a mitigating factor and as "the right thing to do" as good corporate citizens.
--Thanks to John Priecko for supplying this information.
|posted by Douglas N. Jacobson| Permalink 
