U.S. Treasury Department in Washington, D.C. Photo: Diego M. Radzinschi/ALM
Virginia-based electronics maker Cobham Holdings Inc. has received a nearly $90,000 lesson from the U.S. Treasury Department’s Office of Foreign Assets Control about the dangers of relying too heavily on third-party screening software to detect compliance-related issues
Trade lawyers said the case presents a cautionary tale for other companies that may be similarly relying on automated screening without additional vetting procedures.
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