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Home Search results for "Maritime sanctions"

MACN and Marcura launch 3 Sea Diligence – a new third party risk management platform

By Xuan | Knowledge hub | Comments are Closed | 14 February, 2023 | 0

MACN and Marcura launch 3 Sea Diligence – a new third party risk management platform   The Maritime Anti-Corruption Network (MACN) and Marcura are pleased to announce the launch of a new third party risk management platform. The platform is envisioned to foster collaboration and leverage community features to save on cost, time and effortRead more

The impact of sanctions on insurance policies

By Xuan | Knowledge hub | Comments are Closed | 9 September, 2022 | 0

Customer advisory: Impact of sanctions on insurance policies Executive summary Due to the heightened regulatory environment surrounding trade and economic sanctions compliance, insurers have reminded their insureds to perform proper due diligence before entering into any contract. They have also announced widened sanctions exclusion clauses — clauses which will allow them to suspend or terminateRead more

The dynamic nature of sanctions and compliance

By Xuan | Knowledge hub | Comments are Closed | 21 July, 2022 | 0

Throughout our series of 12 articles, we have explored the sanctions compliance landscape, with each of the articles focusing on a particular aspect. The importance and many intricacies of sanctions compliance are not ones to overlook. The dynamic nature of sanctions means there are frequent updates ranging from newly sanctioned entities or changes to newRead more

Tactics used in sanctions evasion attempts

By Xuan | Knowledge hub | Comments are Closed | 21 July, 2022 | 0

The dynamic nature of sanctions means there are frequent changes and updates ranging from newly sanctioned entities to or changes to embargoes and tariffs put in place. Accordingly, many new and evolving sanctions evasion attempts are ongoing. In our 5 ‘red flags’ article, we discussed a handful of the many tactics used to attempt toRead more

The use of technology in sanctions compliance

By Xuan | Knowledge hub | Comments are Closed | 19 July, 2022 | 0

Global awareness of the sanctions compliance landscape has increased. We regularly read and observe countless news reports, political discussions and enforcement actions that have become the talking point throughout the start of 2022. This tool of political foreign policy has been implemented en masse, in an attempt to stop aggressive actions and limit the devastatingRead more

A brief guide to sanctions in the maritime industry

By Xuan | Knowledge hub | Comments are Closed | 14 July, 2022 | 0

Sanctions vary situationally, geographically and politically. As a result, there are different types of sanctions imposed, including but not limited to environmental, diplomatic, military and economic. Sanctions and other restrictions can be imposed through some of the following measures: Tariffs – a government-imposed tax on the import of goods and services from a country. ThisRead more

Penalties for a sanction violation

By Xuan | Knowledge hub | Comments are Closed | 14 July, 2022 | 0

Penalties for a sanction breach can range from monetary to deferred prosecution agreements (DPA) and can be as severe as criminal prosecution. Substantial financial penalties can and have been issued and publicly disclosed which can have severe reputational impact. Enforcement penalties issued by OFAC in 2019 alone hit a record high of $1.3 billion. TheRead more

Three ways to improve your sanctions compliance

By Xuan | Knowledge hub | Comments are Closed | 8 July, 2022 | 0

1. Raise awareness in your organisation The first step to putting in place a robust compliance programme is to ensure that everyone in the organisation is aware of the importance of sanctions compliance and their obligations in this regard. This policy should document how and when to perform risk assessments, transaction monitoring and screenings. 2.Read more

The sanctions compliance landscape

By Xuan | Knowledge hub | Comments are Closed | 8 July, 2022 | 0

The maritime sanctions landscape is constantly evolving. Geopolitical changes, diplomatically-led coercive actions and even global pandemics have impacted the sanctions landscape, and to varying extents could continue to do so. A greater priority The Refinitiv 2021 risk report results concluded that 40% of organisations had said that COVID-19 made sanctions screening a greater priority. ThisRead more

The complexity of the maritime sanctions landscape

By Xuan | Knowledge hub | Comments are Closed | 7 July, 2022 | 0

The complexity of the maritime sanctions landscape is not one to underestimate. Careful consideration needs to be taken by the entire maritime industry. With the trading world merchant fleet projected to reach 79,282 vessels by the end of 2025, it is important that industry players are aware of the tactics used to evade sanctions (includingRead more

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Latest

  • 14 February, 2023
    Comments Off on MACN and Marcura launch 3 Sea Diligence – a new third party risk management platform

    MACN and Marcura launch 3 Sea Diligence – a new third party risk management platform

  • 9 September, 2022
    Comments Off on The impact of sanctions on insurance policies

    The impact of sanctions on insurance policies

  • The dynamic nature of sanctions and compliance
    21 July, 2022
    Comments Off on The dynamic nature of sanctions and compliance

    The dynamic nature of sanctions and compliance

  • Tactics used in sanctions evasion attempts
    21 July, 2022
    Comments Off on Tactics used in sanctions evasion attempts

    Tactics used in sanctions evasion attempts

  • The use of technology in sanctions compliance LI
    19 July, 2022
    Comments Off on The use of technology in sanctions compliance

    The use of technology in sanctions compliance

  • A brief guide to sanctions in the maritime industry
    14 July, 2022
    Comments Off on A brief guide to sanctions in the maritime industry

    A brief guide to sanctions in the maritime industry

  • 14 July, 2022
    Comments Off on Penalties for a sanction violation

    Penalties for a sanction violation

  • Three ways to improve your sanctions compliance
    8 July, 2022
    Comments Off on Three ways to improve your sanctions compliance

    Three ways to improve your sanctions compliance

  • 8 July, 2022
    Comments Off on The sanctions compliance landscape

    The sanctions compliance landscape

  • The complexity of the maritime sanctions landscape featured image
    7 July, 2022
    Comments Off on The complexity of the maritime sanctions landscape

    The complexity of the maritime sanctions landscape

  • 5 July, 2022
    Comments Off on Sanctions compliance

    Sanctions compliance

  • 5 July, 2022
    Comments Off on 5 ‘red flags’ commonly used to evade sanctions

    5 ‘red flags’ commonly used to evade sanctions

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  • Services offered
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    • Maritime Compliance Report
    • Maritime sanctions compliance webinar
    • Compliance Articles
    • Read MCaaS Flyer [no sign up]
  • DEMO MCaaS
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