--- title: International Trade, Enforcement & Compliance Recent Developments Update (October 25, 2023) description: Welcome to Foley’s International Trade, Enforcement & Compliance Recent Developments Update image: https://blog.aiag.org/hubfs/BLOG/flags%20-%20blog.jpg --- [![White AIAG Logo - Uniting Minds.Elevating Standards.](https://blog.aiag.org/hs-fs/hubfs/White%20AIAG%20Logo%20-%20Uniting%20Minds.Elevating%20Standards..png?width=254&height=76&name=White%20AIAG%20Logo%20-%20Uniting%20Minds.Elevating%20Standards..png)](http://www.aiag.org/) [< Back to Blog Listings](https://blog.aiag.org/) # International Trade, Enforcement & Compliance Recent Developments Update (October 25, 2023) by [Gregory Husisian, partner and litigation attorney, Foley & Lardner LLP](https://blog.aiag.org/author/gregory-husisian-partner-and-litigation-attorney-foley-lardner-llp) | Nov 02, 2023 ![flags - blog](https://blog.aiag.org/hs-fs/hubfs/BLOG/flags%20-%20blog.jpg?width=500&height=335&name=flags%20-%20blog.jpg) A veritable grab bag of international trade developments to parse this week. Recent developments include increasing FCPA enforcement, a record OFAC economic sanctions penalty, and a large customs penalty for willful failure to correct known customs errors. Because nothing gets companies to pay more attention to compliance than the prospect of big fines and enforcement actions. ## FCPA Penalty FCPA enforcement is up strongly over the last two years, including [recent examples of a Colombian financial services institution paying over $80 million to resolve parallel bribery investigations in the United States and Colombia](https://www.justice.gov/opa/pr/corficolombiana-pay-80m-resolve-foreign-bribery-investigations). Total annual FCPA penalties have risen from $360 million to $1.5 billion. Does your organization have a robust anticorruption program in place, including effective controls for gifts, meals, entertainment, and travel and audit procedures designed to test the efficacy of its internal controls? ## Economic Sanctions Compliance [OFAC announced a $508 million settlement](https://home.treasury.gov/news/press-releases/jy1441) — the largest-ever economic sanctions against a non-financial institution — based upon alleged sales of cigarettes to North Korea and to proliferators of weapons of mass destruction. The alleged violations include what OFAC described as a seven-year conspiracy to use U.S. financial institutions to transfer profits from a North Korean joint venture. Does your organization maintain comprehensive oversight of how its non-U.S. subsidiaries handle financial transactions to ensure that they are handling them in accordance with all OFAC and AML requirements? 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