Companies doing global trade are well aware of the need to properly address import and export regulations. But often less-known is the requirement for universities and research institutions to also comply with these often complex and thorny rules.
And there are so many touch points that leave higher ed organizations exposed to potential violations; often the staff and educators don’t realize they are violating trade laws that could lead to heavy fines or imprisonment.
It is typical in today’s world that universities are screening students to ensure they are not on any government denied party and admissibility lists.
But surveys conducted by Association of University Export Controls Officers (AUECO) and National Association of College & University Attorneys (NACUA) show that the majority of academic institutions are challenged with regulatory compliance in multiple areas of their organization, not just student screening.
Increased enforcement from government agencies and personal lawsuits has added a costly layer of risk to higher ed compliance. The importance of a holistic compliance program, including a centralized system leveraging technology, has become vital for universities and research institutions.