A major medical device manufacturer engaged Kreller to investigate a potential new distributor. Kreller’s local investigator verified the potential distributor’s registration details and shareholding. Government exposure checks were conducted to ascertain any possible touch points with politically exposed individuals. None were found.
Reference checks determined the potential distributor maintained an excellent reputation within the business community. However, after a visit to the local court registry, it was determined the potential distributor had been recently indicted on charges of conspiring to fix prices within the local medical device market.
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Just two months after enhancing the Anti-Money Laundering (AML) Whistleblower Improvement Act, a move largely seen as an attempt to crack down on Russian sanction evasion, the Biden Administration announced new sanctions on Russia and related entities on February 24, 2023. Less than a week later, the US also signaled that sanctions may be coming for China and other countries helping Russia circumvent restrictions, presenting an increasing need for tight supply chain management and awareness of the potential exposure of downstream and upstream partners.
Anti-Money Laundering Whistleblower Law Expected to “Change the Game” for Sanctions Enforcement
WASHINGTON (AP) — The U.S. trade deficit tumbled nearly 15 percent in January as imports fell and exports rose. Shipments of...
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Just two months after enhancing the Anti-Money Laundering (AML) Whistleblower Improvement Act, a move largely seen as an attempt to crack down on Russian sanction evasion, the Biden Administration announced new sanctions on Russia and related entities on February 24, 2023. Less than a week later, the US also signaled that sanctions may be coming for China and other countries helping Russia circumvent restrictions, presenting an increasing need for tight supply chain management and awareness of the potential exposure of downstream and upstream partners.
Anti-Money Laundering Whistleblower Law Expected to “Change the Game” for Sanctions Enforcement
WASHINGTON (AP) — The U.S. trade deficit tumbled nearly 15 percent in January as imports fell and exports rose. Shipments of...
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