In today's regulatory environment companies involved in cross-border activity have a clear and on-going requirement to identify, manage and, where appropriate reduce the financial and reputational risks associated with an increasingly complex network of international trade rules and regulatory requirements. Over the past decade, the rapid pace of technological advances in the telecommunication and IT sector, in areas such as cloud computing and hosted infrastructure services, has coincided with a widening of European and wider international export control regulations.
Export control and sanctions requirements cover a broad range of telecommunications and IT hardware, software and technology. Controls include restrictions on the export of systems, equipment and components and prohibitions on both the physical and electronic transfer of associated software and technology.
Software vendors, computer manufacturers, companies providing data control and protection solutions, or those involved in the provision of IT, security, and communications solutions need to consider their exposure to export control and sanctions risks.