The U.S. is the leading producer and exporter of travel, entertainment and tourism services. Services provided in this quite diverse industry can be significant in increasing exports of related products. Certain service sectors are known to have the risk of being used by criminals to support enterprises, ranging from money launderers and mortgage fraud rings to terrorist finance networks.
U.S. Treasury Department -The Financial Crimes Enforcement Network (FinCEN) administers the enforcement of anti-money laundering rules for financial service providers and includes travel service providers in its financial services definition. As such, similar to financial institutions, the travel and tourism companies are required to comply with the OFAC regulations. Screening customers and trade partners against OFAC and other government agency restricted party lists help to stay compliant with the regulations.
Having an extensive background in the EAR and OFAC regulations, Intredex experts can assist travel & tourism service providers with several solutions ranging from a web-based software for trade party screening and transaction analysis to export classifications and compliance program assessments.
Some of the provided compliance services include:
OFAC & EAR Compliance
Web-based Restricted and Denied Party Screening software
Web-based Trade Partner Compliance Management software
Compliance assessment and audits
Internal compliance program preparation
Onsite training by our experienced instructors
Processing EAR and OFAC license applications
Processing licenses for hiring/employing non-U.S. nationals
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