What separates effective trade compliance programs from ineffective ones?

It starts at the top.

Good, bad, or ugly, it all trickles down from the top.

Here are the five keys to an effective trade compliance program.

The first two are building blocks for leadership and due diligence.

First, senior executives and boards must actively support trade compliance.

Without leadership engagement, compliance programs become check-the-box exercises.

Second, organizations need robust screening and due diligence processes.

This includes customers, distributors, suppliers, beneficial owners, intermediaries, and other third parties.

Trade compliance failures often begin with poor due diligence.

Strong leadership and strong due diligence create the foundation for every trade compliance program.

The Ethics and Compliance Q and A show is produced by One Stone Creative.