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The American Chamber of Commerce in BiH continues the “Business Integrity Initiative” project for its
members in cooperation with the U.S. Embassy in Bosnia and Herzegovina and Net Consulting and with
the help of the Center for International Private Enterprise (CIPE). As part of the project, the lecture “US
Sanctions and Business: How to Avoid Exposure to Sanctioned Individuals and Entities” was held. Those
present had the opportunity to hear about the application of compliance at different levels, the
adaptation of the organization’s internal policies to the law and the rules and regulations imposed by
partners and collaborators, and in light of the identification of advantages and motives for having such a
program. Since the purpose of the compliance program is to effectively ensure the fulfillment of legal
obligations, norms and standards, as well as a culture that promotes ethical behavior within the
organization, such programs do not only affect the internal stakeholders of one company’s solutions, but
also include society and other companies. The advantages of such a program are the detection and
stopping of illegal and unethical activities, improved communication within the organization, prevention
of financial losses and fines, and protection of the company’s reputation. The consequences of doing
business with sanctioned persons were also addressed, as well as the sanctioning processes themselves,
as well as the obligations and resources that one should turn to when a company wants to avoid
exposure to such persons and organizations. Many participants in the private sector are aware that
ethical companies, which have dedicated staff as well as defined rules of ethical behavior, can respond
and act faster and more efficiently in crisis situations. Integrity-driven organizations do this consciously
and build it into daily operations so that it permeates the entire organization. This environment of
openness and trust helps orient new hires to the idea that acting with integrity is just “the way things
are done around here.” Integrity is often a priority in an organization’s cultural standards. This emphasis
tells both employees and clients that long-term sustainability is more important than short-term
opportunism.