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What is Trade Compliance?
Trade compliance is the process of ensuring that all the activities involved in international trade follow the laws and regulations of the countries involved. Trade compliance covers a wide range of topics, such as customs, tariffs, export controls, sanctions, anti-corruption, anti-money laundering, and data protection. Trade compliance is important for businesses that engage in cross-border transactions, as it can help them avoid fines, penalties, delays, and reputational damage. Trade compliance can also benefit the global economy and society by promoting fair trade practices, protecting national security, and preventing illicit activities.