As the compliance landscape is expanding further, insurance companies, classification societies, shipowners and operators need a high level of awareness as well as a comprehensive sanctions compliance framework in place to protect themselves. The sanctions landscape is extremely dynamic, with new entities regularly being added to global lists. Therefore, any sanctions compliance framework should beRead more
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The complexity of the maritime sanctions landscape is not one to underestimate. Careful consideration needs to be taken by the industry. With the trading world merchant fleet projected to reach 79,282 vessels by the end of 2025, it is critical that the industry remains compliant with sanctions, along with an awareness of deceptive tactics usedRead more
The Office of Financial Sanctions Implementation (OFSI) is the authority for the implementation of financial sanctions in the UK. As a part of HM Treasury, OFSI works on enabling ‘financial sanctions to make the fullest possible contribution to the UK’s foreign policy and national security goals’. What is the UK Sanctions List? The UK governmentRead more
The Office of Financial Assets Control (OFAC) is responsible for administering and enforcing sanctions in the United States. Sanctions by the US, and enforced by OFAC, essentially set up trade embargoes that prohibit US persons and entities located in the US (primary sanctions) and also prohibit foreign persons from engaging in transactions with third countriesRead more
How Marcura customers use MCaaS Container lines and logistics companies: booking files Send or upload daily booking files to MCaaS. We then validate, enhance and screen the data, covering suppliers, beneficiaries, HS codes, commodities and routes. Based on your business rules and reporting format, we upload the screening results daily within agreed SLA. We maintainRead more
Using multiple platforms, MCaaS delivers flexible, customised sanctions screening that strengthens and works alongside your existing compliance program. Our services help reduce time spent on clearing false positives and lower the risk of not capturing a true “hit”. Our unique process includes extracting hidden or unmatched data, validating data against relevant documentation, and applying extraRead more
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