Zoom Discloses Potential Export Violations
Zoom Video Communications recently disclosed potential export control violations to the U.S. government, according to its Securities and Exchange Commission filing. Zoom said it submitted a voluntary self-disclosure to the Bureau of Industry and Security in June “regarding compliance with…
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certain U.S. export control laws and regulations.” The company said it may be subject to fines or other penalties. Although it didn’t provide specific details, Zoom said it may have “inadvertently” allowed its platform and products to be used by customers in ways that violate U.S. sanctions laws. It also said it may have allowed its software products to be used by end-users in embargoed or sanctioned countries, which could have violated the Export Administration Regulations. “While we are working to implement additional controls designed to prevent similar activity from occurring in the future, these controls may not be fully effective,” Zoom said in the November filing.