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Accurate trade transaction monitoring with Trade Compliance Secure

Advanced trade compliance capabilities for speed and precision

Regulation is the single biggest obstacle for the trade finance industry. Financial institutions are under increasing pressure to ensure they manage and mitigate associated risks. Risk is further compounded due to the complexity of the trade finance process. An industry that relies heavily on paper-based documents for key terms, agreements and details of trade transactions within an ecosystem of cargo operators, freight forwarders, insurance agents and financial institutions requires a compliance management tool that can streamline the day-to-day functions and tasks of the trade operations team.

Trade Compliance Secure from IHS Markit supports trade finance practitioners by automating their workflow processes. Through Big Data one can gain insights into trade patterns, routes and commodity shipments that provide clarity when determining the risk patterns in every trade transaction. In addition, the solution provides the ability to screen vessel movements and ownership structures, dual-use goods, commodity prices, entities and locations. 

Trade Compliance Secure enables:

  • A risk-based approach to elements within the trade transaction
  • Comprehensive datasets across the shipping and trading world to ensure that your decisions are based on the richest and most accurate content sets
  • Automated processing to improve customer turnaround time for new and existing trade applications
  • All screening services are maintained within a single, consolidated workflow configurable to individual risk appetites and processes

Trade Compliance Secure Capabilities

Our unique solution supports all areas across the trade compliance workflow including:

Dual-Use Goods Screening
Dual-Use Goods Screening
A multi-level mapping of commodity names and codes facilitates the search for a dual-use item on the European Union 428/2009 dual-use list and other associated documents
Vessel Identification & Sanctions Screening
Vessel Identification & Sanctions Screening
Screen all 7 levels of a ships ownership to determine if a vessel is connected to any sanctioned group or a party on the OFAC, UN, or EU watch-lists
Vessel Tracking
Vessel Tracking
Monitor vessels current journey and pinpoint previous voyages to identify any sanctioned port calls. View activity by vessel in terms of ship-to-ship cargo transfers or ‘going dark’ with AIS vessel tracking technology
Document Processing with OCR Technology
Document Processing with OCR Technology
Digitize paper files to effectively manage the extraction of key data fields from trade documents for compliance screening and inconsistent text analysis
Know Your Customer
Know Your Customer
Perform client due diligence on public and private entity information including corporate registration details, high risk-countries and industry assessments, financial information, company hierarchy and ownership
Transaction Exception Handling
Transaction Exception Handling
Identify if the shipment of goods makes economic sense with valuable insights into the movement of goods around the world with direct line of sight as to what a country exports and imports
Commodity Classification & Pricing
Commodity Classification & Pricing
Determine true cost of goods being transported with official global import and export statistics compiled in a comprehensive database of merchandise trade covering 200 countries

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