2021 Compliance Risk Index Released Today

GCSG releases third annual Compliance Risk Index (CRI)

The CRI provides business, compliance, and risk professionals with an easy to understand overall risk score and rating, at the country-level, based on assessing five risk domains

PRAIRIEVILLE, LA., August 15, 2022 – The 2021 Compliance Risk Index (CRI) was released today by Global Compliance Solutions Group LLC (GCSG). The 2021 CRI is the third publication of the index. The CRI measures compliance risk in more than 200 countries and territories.  It provides the reader with a calculated overall composite risk score and assigns a composite risk rating across five domains (Governance and Regulatory, Bribery and Corruption, Trade, Financial, and Data Privacy) and a risk score and rating within each domain for each country.    

The domains are assessed using 26 publicly available data sources such as the World Bank, World Economic Forum, and the Heritage Foundation.  Based on our analysis and algorithms the information is processed and a score and rating is assigned.     

“With today’s fast-paced compliance and risk environment and the recent trade wars and global pandemic companies are looking to diversify their supply chains and reduce their compliance risk.”  said Jonathan Mellard, Founder, GCSG.

The CRI is a tool for business, compliance and risk professionals to assist with understanding their potential compliance risk in their ongoing operations and with their M&A activity. 

“Our compliance risk index provides the users access to our knowledge and experience without having to formally engage us.  And then, as needed we can provide direct client support with our international advisory, audit and due diligence services,” added Mellard. 

Access the 2021 Compliance Risk Index: http://www.globalcompliancesg.com/compliance-risk-index

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Global Compliance Solutions Group LLC (GCSG)

GCSG is headquartered in Louisiana, USA. We guide and partner with our clients to reduce their compliance risk and help protect their bottom line and reputation. We provide international Advisory, Audit, and Due Diligence products and services wherever our global clients are located across a range of industries in the areas of Anti-Bribery and Corruption, Import, Export, and Customs Compliance, Data Privacy, Drug Precursor, and Distilled Spirits Plant Compliance.

For more information about GCSG: http://www.globalcompliancesg.com/about-us

Contact

E   info@globalcompliancesg.com

W http://www.globalcompliancesg.com/contact

Germany's New Corporate Supply Chain Due Diligence Law

On Friday, June 11, 2021 the German Bundestag passed a law that requires companies to report on human rights and environmental abuses in their direct supply chains. The law affects companies with their head office in Germany as well as subsidiaries of multinationals that are based in Germany. It becomes effective in the following phases:

• 2023 for companies with 3,000 or more employees

• 2024 for companies with 1,000-2,999 employees

To learn more click here for a pdf of recent seminar slides on this topic by King & Wood Mallesons Rechtsanwaltsgesellschaft mbH.

GCSG Marks 5th Year in Business

Press Release

Global Compliance Solutions Group LLC (GCSG) marks fifth anniversary

GCSG celebrates growth and impact in its fifth year  

PRAIRIEVILLE, Louisiana, March 1, 2021 – GCSG, an advisory, audit and due diligence firm focused on helping companies manage compliance risk and protect their reputation, marks our fifth anniversary today.  Five years after our launch, GCSG continues to deliver innovative solutions to our growing client base across the United States, Europe, and Asia.

Our expertise focuses on the often overlapping compliance risks involving trade compliance, anti-bribery and corruption, fraud, data privacy, and third party risk management.  Our core values of integrity, service, and accountability matched with common sense solutions help our clients reduce risk, stay compliant, protect their reputation, and facilitate efficient sales and trade.     

“Year five is a transition milestone for any company.  We’d like to take a moment to thank every client, vendor, partner, employee, and sub-contractor who has been on this journey with us. Every one of them has contributed to our success. We wouldn’t have reached this milestone and achieved as much without them.” says Jonathan Mellard, Founder, GCSG.

Over the years, we’ve passed a lot of promising milestones and we’ve launched several new products and services, including but not limited to the following:

• Increased our global client base 20x;

• Helped build and improve compliance programs in the US, Europe, and Asia;

• Conducted risk assessments, audits, and investigations in the US, Europe, and Asia;

• Launched our third-party due diligence reports, a global compliance risk index, country specific risk profiles; and

• Expanded key network partnerships in Latin America, Asia, and Europe.

“As we continue our growth into the future we look forward to continuing to deliver exceptional value to our clients as we remain committed to our core values of integrity, a service mindset, and being accountable to our clients and our profession,” added Mellard. 

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Global Compliance Solutions Group LLC (GCSG)

GCSG is headquartered in Louisiana, USA. We reduce risk and help protect our client’s business by guiding and partnering with them to solve challenging compliance issues. We provide international Advisory, Audit, and Due Diligence products and services wherever our global clients are located across a range of industries in the areas of Anti-Bribery and Corruption, Import, Export, and Customs Compliance, Data Privacy, Drug Precursor, and Distilled Spirits Plant Compliance.

For more information about GCSG: http://www.globalcompliancesg.com/about-us

Follow us online:

·         Facebook – http://www.facebook.com/globalcompliancesg

·         LinkedIn – https://www.linkedin.com/company/global-compliance-solutions-group-llc

Signup for our monthly global compliance news update email: http://eepurl.com/crXHmL

Contact

E   info@globalcompliancesg.com

W http://www.globalcompliancesg.com/contact

GCSG Issues Turkey Compliance Risk Profile

Global Compliance Solutions Group LLC (GCSG) issues Turkey country compliance risk profile

GCSG distributes Turkey, our seventh country compliance risk profile – our risk profiles provide business, compliance, and risk professionals with a snapshot of relevant governance, trade compliance, anti-bribery and corruption, and data privacy risks

PRAIRIEVILLE, LA – GCSG, a professional compliance management consulting company, today issues Turkey our seventh country compliance risk profile.  The risk profiles are intended for business, compliance and risk professionals concerned with governance, trade compliance, anti-bribery and corruption compliance, and data privacy risks in countries in which they do business. 

Each risk profile is designed to provide a snapshot of a targeted set of compliance risks within each country to assist the user with understanding the risks in that country as they look to diversify their supply chains, acquire a new business, or improve their knowledge of a country they currently operate within. 

“We are excited to build on our client focused services with the launch of our free country compliance risk profiles because we believe they will bring value to the user,” said Jonathan Mellard, Founder, GCSG. 

Each risk profile provides a concise view of relevant legislation, risks, and the current environment.  Every risk profile incorporates a risk ranking for each category and for the country overall.  The risk ranking is determined using our Compliance Risk Index (CRI), a tool that analyzes a combination of publicly available factors and then calculates and assigns a score for potential risk at the country level.   

Our first six profiles were Vietnam, Myanmar, Indonesia, Malaysia, China, and India. Interested parties should periodically check our country risk profiles web page as we continue, over time, to add more profiles.

Access the Turkey risk profile: http://www.globalcompliancesg.com/s/Turkey-Country-Risk-Profile_2020-zmkm.pdf

Access all of our country risk profiles: http://www.globalcompliancesg.com/country-risk-profiles

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Global Compliance Solutions Group LLC

Global Compliance Solutions Group LLC (GCSG) is headquartered in Louisiana, USA.  We provide international Advisory, Audit, and Due Diligence products and services wherever our global clients are located across a range of industries in the areas of Anti-Bribery and Corruption, Import, Export, and Customs Compliance, Drug Precursor, and Distilled Spirits Plant Compliance. We reduce risk and help protect our client’s business by guiding and partnering with them to solve challenging compliance issues. 

For more information about GCSG: http://www.globalcompliancesg.com/about-us

Follow us online:

·         Facebook – http://www.facebook.com/globalcompliancesg

·         Twitter – https://twitter.com/GCSGLLC

·         LinkedIn – https://www.linkedin.com/company/global-compliance-solutions-group-llc

Signup for our monthly global compliance news update email: http://eepurl.com/crXHmL

Contact

E   info@globalcompliancesg.com

W http://www.globalcompliancesg.com/contact

GCSG Issues India Compliance Risk Profile

Global Compliance Solutions Group LLC (GCSG) issues India country compliance risk profile

GCSG distributes India, our sixth country compliance risk profile – our risk profiles provide business, compliance, and risk professionals with a snapshot of relevant governance, trade compliance, anti-bribery and corruption, and data privacy risks

PRAIRIEVILLE, LA – GCSG, a professional compliance management consulting company, today issues India our sixth country compliance risk profile.  The risk profiles are intended for business, compliance and risk professionals concerned with governance, trade compliance, anti-bribery and corruption compliance, and data privacy risks in countries in which they do business. 

Each risk profile is designed to provide a snapshot of a targeted set of compliance risks within each country to assist the user with understanding the risks in that country as they look to diversify their supply chains, acquire a new business, or improve their knowledge of a country they currently operate within. 

“We are excited to build on our client focused services with the launch of our free country compliance risk profiles because we believe they will bring value to the user,” said Jonathan Mellard, Founder, GCSG. 

Each risk profile provides a concise view of relevant legislation, risks, and the current environment.  Every risk profile incorporates a risk ranking for each category and for the country overall.  The risk ranking is determined using our Compliance Risk Index (CRI), a tool that analyzes a combination of publicly available factors and then calculates and assigns a score for potential risk at the country level.   

Our first five profiles were Vietnam, Myanmar, Indonesia, Malaysia, and China. Interested parties should periodically check our country risk profiles web page as we continue, over time, to add more profiles.

Access the India risk profile: http://www.globalcompliancesg.com/s/India-Country-Risk-Profile.pdf

Access all of our country risk profiles: http://www.globalcompliancesg.com/country-risk-profiles

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Global Compliance Solutions Group LLC

Global Compliance Solutions Group LLC (GCSG) is headquartered in Louisiana, USA.  We provide international Advisory, Audit, and Due Diligence products and services wherever our global clients are located across a range of industries in the areas of Anti-Bribery and Corruption, Import, Export, and Customs Compliance, Drug Precursor, and Distilled Spirits Plant Compliance. We reduce risk and help protect our client’s business by guiding and partnering with them to solve challenging compliance issues. 

For more information about GCSG: http://www.globalcompliancesg.com/about-us

Follow us online:

·         Facebook – http://www.facebook.com/globalcompliancesg

·         Twitter – https://twitter.com/GCSGLLC

·         LinkedIn – https://www.linkedin.com/company/global-compliance-solutions-group-llc

Signup for our monthly global compliance news update email: http://eepurl.com/crXHmL

Contact

E   info@globalcompliancesg.com

W http://www.globalcompliancesg.com/contact

GCSG: Our Commitment Remains - We are Here to Help

COVID-19: Our commitment remains - we are here for our clients during and after the crisis to partner with you to reduce risk and protect your business

GCSG hopes you and your families are safe and we wish the very best for you, your families, and your business during these challenging times. It’s been an unbelievable last few weeks as we all face personal and professional challenges related to the coronavirus pandemic. Amid these stressful times we remain dedicated to our clients and committed to our mission to reduce your risk and protect your business with integrity, accountability, and a service mind-set.

We are committed to:

• Prioritizing your needs. While you prioritize your businesses urgent issues we are available, whenever needed, to assist you in the capacity you need to best reduce your burden and help manage your risks.

• Remaining open for business. GCSG has always emphasized remote work for our personnel. As a result we are well-suited to ensure no business disruption will occur for the products and services we provide our clients.

• Keeping our clients informed. We remain dedicated to keeping you informed about key import and export (trade) compliance, anti-bribery and corruption, fraud, data privacy, anti-trust, and governance issues during this fast moving environment. Sign up for our monthly global compliance updates newsletter here: http://eepurl.com/crXHmL

• Flexible payment terms. GCSG is proud to be a high-quality compliance management firm that also happens to be cost-efficient. Our remote work arrangements help us maintain this efficiency. As your businesses cut back on cost during the crisis we will be flexible in our payment terms to help you meet your goals during a tight spending environment.

We bring additional value during times of supply chain and manufacturing disruptions by:

• Leaning on our own unique experiences. GCSG personnel have extensive experience:

  • Managing risk during a crisis both in an in-house capacity working for global manufacturing companies as well as in our current capacity as management consultants;

  • Advising on the best approach to alleviate a compliance issue during a crisis;

  • Prioritizing compliance risks in a lean environment;

  • Auditing and conducting investigations during high-stress periods for a business and location; and

  • Conducting M&A and third-party due diligence under tight deadlines while helping our clients make wise decisions on new acquisitions and third-party partnerships in a fluid environment.

• Leveraging our large global network. GCSG has established relationships with well over 100 global firms and independent contractors specialized in legal, compliance, privacy, and due diligence matters that provide us and our clients with access to real-time on-the-ground knowledge and support in many jurisdictions around the world.

Just as each mornings rising sun brings hope we’ll make it through this uncertain environment—as we live out the values of integrity and service.

Sincerely,

Jonathan Mellard, Founder

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Contact

E   info@globalcompliancesg.com

W www.globalcompliancesg.com/contact

GCSG Issues China Country Risk Profile

Global Compliance Solutions Group LLC (GCSG) issues China country compliance risk profile

GCSG distributes China, our fifth country compliance risk profile – our risk profiles provide business, compliance, and risk professionals with a snapshot of relevant governance, trade compliance, and anti-bribery and corruption risks

PRAIRIEVILLE, LA – GCSG, a professional compliance management consulting company, today issues China our fifth country compliance risk profile.  The risk profiles are intended for business, compliance and risk professionals concerned with governance, trade compliance, and anti-bribery and corruption compliance risks in countries in which they do business. 

Each risk profile is designed to provide a snapshot of a targeted set of compliance risks within each country to assist the user with understanding the risks in that country as they look to diversify their supply chains, acquire a new business, or improve their knowledge of a country they currently operate within. 

“We are excited to build on our client focused services with the launch of our free country compliance risk profiles because we believe they will bring value to the user,” said Jonathan Mellard, Founder, GCSG. 

Each risk profile provides a concise view of relevant legislation, risks, and the current environment.  Every risk profile incorporates a risk ranking for each category and for the country overall.  The risk ranking is determined using our Compliance Risk Index (CRI), a tool that analyzes a combination of publicly available factors and then calculates and assigns a score for potential risk at the country level.   

Our first four profiles were Vietnam, Myanmar, Indonesia, and Malaysia. Interested parties should periodically check our country risk profiles web page as we continue, over time, to add more profiles.

Access the China risk profile: http://www.globalcompliancesg.com/s/China-Country-Risk-Profile_2020.pdf

Access all of our country risk profiles: http://www.globalcompliancesg.com/country-risk-profiles

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Global Compliance Solutions Group LLC

Global Compliance Solutions Group LLC (GCSG) is headquartered in Louisiana, USA.  We provide international Advisory, Audit, and Due Diligence products and services wherever our global clients are located across a range of industries in the areas of Anti-Bribery and Corruption, Import, Export, and Customs Compliance, Drug Precursor, and Distilled Spirits Plant Compliance. We reduce risk and help protect our client’s business by guiding and partnering with them to solve challenging compliance issues. 

For more information about GCSG: http://www.globalcompliancesg.com/about-us

Follow us online:

·         Facebook – http://www.facebook.com/globalcompliancesg

·         Twitter – https://twitter.com/GCSGLLC

·         LinkedIn – https://www.linkedin.com/company/global-compliance-solutions-group-llc

Signup for our monthly global compliance news update email: http://eepurl.com/crXHmL

Contact

E   info@globalcompliancesg.com

Network of Iranian front companies disrupted by OFAC

On March 26, 2019 the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced(1) it had taken action against a network of 25 individuals and entities that had transferred over a billion dollars to the Islamic Revolutionary Guard Corps (IRGC) and Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL).

The evasion scheme included a layered network of front companies and agents based in Iran, UAE, and Turkey that were set up to evade international sanctions and to gain access to the international financial system. The network exchanged devalued Iranian rials for dollars and euros.

“We are targeting a vast network of front companies and individuals located in Iran, Turkey, and the UAE to disrupt a scheme the Iranian regime has used to illicitly move more than a billion dollars in funds…Central to this network and sanctioned today pursuant to our counter terrorism authority is Iran's IRGC-controlled Ansar Bank and its currency exchange arm, Ansar Exchange, both of which used layers of intermediary entities to exchange devalued Iranian rial ultimately for dollars and euros to line the pockets of the IRGC and MODAFL…” (1)

Five front companies- UAE-based Sakan General Trading, Lebra Moon General Trading, and Naria General Trading, and Turkey-based Atlas Doviz, and the Iran-based Hital Exchange provided $800 million in funds to Ansar exchange.

Now more than ever, it is vitally important that global companies implement third-party due diligence and engagement policies. These policies are often risk-based but should be comprehensive and include at a minimum background investigation diligence and ongoing monitoring of distribution networks and contract agents.

Contact our Due Diligence compliance professionals at GCSG today to learn how we can help you mitigate your third-party risk with our due diligence reports, risk-ranking tool, policy development and implementation support, and international boots-on-the-ground third-party Audits.

References

(1) U.S. Department of the Treasury Press Releases - “United States Disrupts Large Scale Front Company Network Transferring Hundreds of Millions of Dollars and Euros to the IRGC and Iran’s Ministry of Defense.” - March 26, 2019

GCSG Launches Third-Party Due Diligence Survey

Global Compliance Solutions Group LLC (GCSG) launches a third-party due diligence practices survey

PRAIRIEVILLE, Louisiana, August 28, 2017 – GCSG, an advisory, audit and due diligence firm focused on helping companies manage compliance and risk in their own business and with their third parties, launches a third-party due diligence practices survey.

Click here to take our benchmarking survey.

Is third party due diligence a part of your job duties?  In your area of responsibility?  Within the responsibility of your department?  If any of these sound like your experience, then GCSG needs your expertise.

Do you wonder how your third-party due diligence approach stacks up against other companies?  Then you should take a moment to share your experiences and complete our survey.

The survey will take about 10 minutes to complete.  All survey participants will receive a copy of the survey results report and all responses are anonymous.  We greatly appreciate your feedback.

Click here to take our benchmarking survey.

Survey URL: https://www.surveymonkey.com/r/FSSDYPR

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About GCSG

Global Compliance Solutions Group LLC was founded in 2016 and is headquartered in Louisiana, USA.  We provide Advisory, Audit, and Due Diligence services for our clients across a range of industries in the areas of Import, Export and Customs Compliance, Anti-Bribery and Anti-Corruption, Drug Precursor, and Distilled Spirits Plant compliance.  The GCSG service team delivers compliance program assessment, development and implementation support, audit, and acquisition and third party due diligence services.  We partner with our clients to solve challenging compliance issues with a strategic, comprehensive, and common sense methodology.  More information can be found at: http://www.globalcompliancesg.com

Learn more about GCSG by following us online:

• Facebook - http://www.facebook.com/globalcompliancesg

• Twitter - https://twitter.com/GCSGLLC

• LinkedIn - https://www.linkedin.com/company/global-compliance-solutions-group-llc

• Instagram - http://instagram.com/globalcompliancesg

Contact us here.

France passes supply chain due diligence law

On February 21, 2017, the French National Assembly passed a law that requires certain companies based in France, to establish an "effective vigilance plan" (the "Plan") within their global supply chains.  The due diligence law is applicable to the following types of companies:

• Any company that has its registered office in France that employs at least 2,000 employees (at its close of two consecutive financial years), within the country, in its head office and in its direct or indirect subsidiaries; and
• Any company, registered in France, with at least 10,000 employees worldwide in its parent company and its direct or indirect subsidiaries, whose head office is in France or whose head office is abroad

The law requires the Plan to include "reasonable vigilance" measures to identify risks and prevent serious violations of human rights and fundamental freedoms, the health and safety of persons and the environment resulting from the activities of society, those of the companies it controls (directly or indirectly), as well as the activities of subcontractors or suppliers with whom an established commercial relationship is maintained.  The law outlines the following key measures to be included in the Plan:

• Risk mapping intended to identify, analyze, and rank
• Procedures that require regular assessment of compliance with the plan of subsidiaries, subcontractors or suppliers with whom an established commercial relationship is maintained with regard to risk mapping
• Documented actions to be taken to mitigate risks or prevent serious harm
• A mechanism for collecting alerts on the existence or risks
• A mechanism for monitoring the measures implemented and evaluating their effectiveness

Failure to comply with the requirements of the law within three months of the date of the formal notice, can subject a company to a civil fine that can not exceed € 10 million. 

Human Rights Watch said of the law, "..France took a historic step toward reducing these human rights abuses.  Parliament passed a law that pushes for accountability for multinational companies sourcing from global supply chains."(1)

Key Link(s):

• Text of "Law Proposition" on the diligence of the parent companies and donor-order companies
• (1) HRW - "France Takes Historic Step Toward Reducing Supply Chain Abuses"