Five Steps to Protect Global Supply Chains from Sanctioned North Korean Input
Bloomberg Law
In this article, Richard Mojica, Timothy O'Toole, and Caroline Watson discuss the five steps a company should take to protect their global supply chain from the deceptive practices employed by some foreign suppliers who utilize North Korean labor or content in the goods and services they provide, in violation of U.S. sanctions on North Korea. "Businesses that source globally would be prudent to heed OFAC's recent warnings and take action to proactively protect their supply chains from the risk of illicit content, particularly from North Korea," the authors wrote. These steps include risk assessments; tailored screening measures; supplier codes of conduct, compliance certifications, and contract provisions; supplier audits and training; and internal reporting mechanisms.