B. Stephanie Siegmann, chair of the International Trade & National Security Group and co-chair of the Cybersecurity, Privacy & Data Protection Group, was recently quoted in Export Compliance Manager’s December 2024/January 2025 issue. When asked about which 2024 trade compliance lessons will carry over into 2025, Stephanie discussed support of increased export restrictions, especially involving foreign adversaries:
There is bipartisan support for increased export restrictions, the closing of loopholes, and scrutiny of joint collaborations and research with, as well as investments involving, entities affiliated with foreign adversaries. The increased alliances between the governments of China, North Korea, Iran, and Russia will continue to accelerate the coordination of intelligence sharing and investigative activities among US intelligence and enforcement agencies.
Stephanie also discussed the need for organizations to evaluate processes, procedures, and operations to mitigate risk:
Accordingly, businesses need to evaluate their supply chains, organization structures, and exports/sanctions compliance programs to ensure that they are properly identifying and effectively mitigating risks of all kinds as well as safeguarding all export controlled information and propriety data, especially trade secrets. According to a prosecution brought in March 2024, even Google, the third-largest technology company, had its trade secrets stolen by one of its employees.
Read the full article: “Changing Horizons.” Export Compliance Manager, December 2024/January 2025.
