BITE Weekly Updates

May 10, 2024 - Its been a busy week! Check out all the cool stuff our team has been doing below, including:

• Attendance at ISECS events that includes A/S Matt Axelrod from BIS and Asst  Matt Olsen from DOJ
• Fantastic new tech coming out of Zebox
• Reminder of the Quint-Seal compliance Note on Export Control
• Roll out of of our new BITE U Training Module!

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International Sanctions and Export Control Society Event

Our CEO, Thariq, attended a special closed-door session hosted by the International Sanctions and Export Control Society at the Orrick, Herrington & Sutcliffe LLP offices in DC. Matt Axelrod, Assistant Secretary for Export Enforcement at the Bureau of Industry and Security, Department of Commerce, and Matt Olsen, Assistant Attorney General for National Security at the U.S. Department of Justice, provided invaluable insights and updates into their collaborative efforts across US agencies, shedding light on the future of export enforcement.

ISECS plays a pivotal role in the export control space, and the BITE Team  is genuinely excited about the prospect of collaborating with them.

Many thanks to ISECS team for organizing such an excellent event! their efforts are commendable, and we are truly impressed by the work they are doing.

Quint Seal Export Compliance Note

Reflecting on the recent ‘Quint-Seal Compliance Note - Know Your Cargo’, issued by the Department of Justice (DOJ), Department of Commerce’s Bureau of Industry and Security (BIS), Department of Homeland Security’s Homeland Security Investigations (HSI), Department of State’s Directorate of Defense Trade Controls (DDTC), and Department of the Treasury’s Office of Foreign Assets Control (OFAC), it's evident that collaboration among key government agencies is crucial in addressing compliance challenges.

Issued on December 11, 2023, this joint compliance note, known as the Quint-Seal Compliance note, shed light on common tactics utilized by malign actors in the maritime and transportation sectors. It also highlighted recent enforcement actions taken in response to alleged violations of U.S. sanctions and export controls.

Reiterating best practices, the note emphasized the importance of implementing written, risk-based compliance policies, conducting due diligence on vessels or vehicles, implementing robust know-your-customer procedures, and exercising supply chain due diligence.

As a reminder, the BITE: Supply Chain Screening Team is here to assist with navigating the complex landscape of export and import compliance, particularly from a sanctions and commodity control perspective. Don’t hesitate to reach out if you need assistance in this area.

Link to Compliance note

BITE U:Training Module

We're continuing to listen to the needs of our customers, and in response, we're expanding our BITE U training module. Exciting new modules on import compliance, export compliance, and cybersecurity for supply chain risk management (CSCRM) are in development.

But that's not all – we're actively working on ESG, Forced Labor, and Trade-based money laundering modules, slated to be released in the next few weeks.

Access to BITE U is seamlessly integrated into our Enterprise license, priced at $59 per user per month. We firmly believe that compliance requires both training and tools, and here at BITE: Supply Chain Screening, we're fully committed to providing our customers with comprehensive support in both areas.

ZEBOX's event last week in DC - “Spring Ovation in Government"

Our CEO Thariq, had an excellent time attending ZEBOX's event last week in DC - “Spring Ovation in Government”. It was truly inspiring to see so many innovative tech startups showcasing their solutions tailored for the public sector.

Special thanks to Liz and Felipe for extending the invitation - although we regret for only being able to attend the second half due to another commitment.

ZEBOX serves as a remarkable investment and accelerator hub in the supply chain space. In our opinion, there's a notable lack of early-stage investment in the supply chain, regulatory tech, and logistics tech industries. The BITE team wholeheartedly believe in their mission and see immense potential for innovation in these sectors. Despite the high barriers to entry in the supply chain space for tech products, we're convinced that numerous opportunities exist for both macro and micro-level disruption.

During the event, Arjun from Overwatch Data delivered a stellar pitch about their company’s solution. Their AI tools for open-source intelligence and analysis are incredibly promising, especially for the intelligence community in the US.

We extend our gratitude to Ashtan and Naveed for introducing us to Liz and her team. We're eagerly looking forward to future invitations to events like this! Kudos to Zebox for hosting such a fantastic event.