The Boeing Co. has agreed to pay $51 million to settle nearly 200 export violations that posed a threat to U.S. national security, as revealed by the U.S. Department of State on Thursday. These violations include instances where foreign employees of the company downloaded and transferred technical data that fell foul of the International Traffic in Arms Regulations.
Of the $51 million settlement, $24 million will be channeled towards improving the corporation’s compliance measures, thereby strengthening processes, mitigating future risk and ensuring that these breaches of international law do not re-occur.
This case serves as a potent reminder to corporations worldwide about the importance of strict adherence to international regulations, in particular, those pertaining to exports and armaments. Legal professionals tasked with overseeing these domains must remain vigilant with compliance efforts, taking heed from the repercussions faced by The Boeing Co.
For more details on this case, legal professionals can access the official coverage on
Law360.