International food marketer AJC International is using technology from JPMorgan Chase Vastera's new Restricted Party Screening and Resolution Services to help improve trade compliance, eliminate staff research time, and keep its complex global supply chain in motion.
Outsourcing trade compliance allows AJC to focus on food transportation while JPMorgan Chase Vastera reviews customers' and suppliers' names and addresses against more than 50 continuously changing international lists. Parties or entities that various governments have deemed irresponsible traders or a threat to national security are prohibited from exchanging goods or services. The RPS screening system highlights positive matches, identifying which lists the matches are against, outlining the legal requirements associated with each particular list, and recommending immediate compliance steps. Resolution rationale for all screened names is documented and retained for audit trail reference.
"Due to our high volume global operations, and the fact that we are doing business in 'risky' regions of the world, it was important that AJC focus on corporate compliance," said Jerry Allison, Chief Executive Officer, AJC International.