Know Your Customer’s rap sheet: the risk hiding in your own book of business

AI Summary

The article examines how freight forwarders must screen customers under sanctions and trade-compliance rules, following US OFAC fines against two firms. It warns that compliance risks can also come from established business customers, not only suspicious consignees.

The Office of Foreign Assets Control (OFAC) in the US has fined two freight forwarders in 13 months and underscored their responsibilities as gatekeepers of international trade. But what happens when the biggest compliance risk isn’t a shady consignee — it’s the blue-chip BCO paying your invoices? The post Know Your Customer’s rap sheet: the risk hiding in your own book of business appeared first on The Loadstar.