PayPal apologizes for policy notice saying users could face $2,500 fines for misinformation (msn.com)

The company stated this "Acceptable Use Policy" (AUP) was issued in error.  PayPal also owns Venmo. 

PayPal Sets Social Media Ablaze with Major Change (msn.com)

PayPal's revenue is derived from fees. It is imposing a "misinformation" penalty fee of $2500 and withdrawing from the customer account.

Washington, DC--

On September 30, 2022, OFAC made the following announcement:

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing "Sanctions Compliance Guidance for Instant Payment Systems” which emphasizes the importance of taking a risk-based approach to managing sanctions risks in the context of new payment technologies such as instant payment systems and to highlight considerations relevant to managing those risks.  This guidance also encourages developers of instant payment systems to incorporate sanctions compliance considerations and features as they develop these systems.

Companies in the e-commerce ecosystem should join EMTC to get training on international trade compliance.

Washington, DC--

The White House posted to its website from the Office of Science and Technology Policy a "Blueprint for an AI Bill of Rights" noting:

"To advance President Biden’s vision, the White House Office of Science and Technology Policy has identified five principles that should guide the design, use, and deployment of automated systems to protect the American public in the age of artificial intelligence."

Click this link to access the Blueprint for an AI Bill of Rights.

For Corporate America, Strong U.S. Dollar Cuts Both Ways - WSJ

The strong dollar is making US goods more expensive around the world. 

New York is now No. 1 port in a tipping point for U.S.-bound trade (ampproject.org)

NYNJ moved 843191 TEUs in August, but vessels still waiting for berths.

Kenya makes its first export under the AfCFTA agreement – FREIGHT LOGISTICS MAGAZINE (feaffa.com)

Congratulations! EMTC is speaking on the opportunities for  AfCFTA on October 18 at the 2nd Annual Ecommerce and Logistics Conference (South Africa)

Federal Register :: Quarterly IRS Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds on Customs Duties

A 1099-K Notification from PayPal Alerts Seller to Unanticipated Problem - EcommerceBytes

If the emails says "View Updates to your PayPal Account " take note. Your gross payment for goods and services exceeded $600.  You may owe taxes to the IRS and potentially your state. 

Facebook and Zuckerberg Take Painful Decisions (msn.com)

As a result of stagnant growth FB plans to cut expenses by 10%.  This includes "drastic staffing cuts".   Reportedly FB employees are being asked to re-apply for their jobs under re-structuring efforts.