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Practical challenges and recommendations for financial
institutions regarding the monitoring of AIS outages and suspicious
vessel activity.
OFAC's advisory on 'Guidance to Address Illicit Shipping and
Sanctions Evasion Practices' of 2020 outlined a number of
recommendations for financial institutions to manage risk in
relation to shipping. The guidance relating to 'dark' activity and
ship-to-ship transfers have been challenging to implement within
existing trade finance compliance screening programmes.
ACSS, IIBLP and IHS Markit interviewed
a number of banks and others to look at the actions taken by
financial institutions in response to the OFAC advisory notice and
offer a series of practical recommendations to best manage the new
world of shipping risk.
Join us in a complimentary webinar Managing Shipping Risk for Trade
Finance on 7 March at 11am EST, where the discussion will
include this whitepaper outlining recommendations for financial
institutions to comply with OFAC guidelines relating to shipping.
Click here to register.