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TTI, Inc., Murray Slovick A long timeframe for completing a government regulation to address a known problem is not unusual. Back in 2011 the Senate Armed Services Committee initiated an investigation into counterfeit electronic parts in the U.S. Department of Defense (DoD) supply chain.
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The National Law Review, Emily S. Theriault & David S. Gallacher On August 2, 2016, the Department of Defense (“DOD”) rolled out new requirements for defense contractors that provide electronic parts and assemblies containing electronic parts, and with the new rules imposing significant risks on DOD contractors.
Bank Info Security, Tracy Kitten In May, 2014, Texas-based manufacturing firm AFGlobal Corp. was hit by a business email compromise attack that resulted in fraud losses of $480,000. AFGlobal subsequently filed a claim with its insurance company, Federal Insurance Co., a division of Chubb Group.
Lexology, Dentons - Jessica C. Abrahams and Kevin J. Lombardo On August 30, 2016, the DoD issued a final rule amending the DFARS to implement §885(a) of the FY 2016 NDAA, which expands the safe harbor for allowability of costs of counterfeit or suspect counterfeit electronic parts and any related rework or corrective action.