Shipping plays a significant role in the global supply chain. This fact hasn’t been overlooked by regulators, as they continuously shift some of the responsibilities on stopping sanctions evasions towards the maritime ecosystem. The recent advisory from U.S. authorities has, for the first time, detailed the responsibilities and expectations that private businesses connected to the maritime sector must adhere to.
As trade sanctions increase, knowing which vessels you can safely do business with is of growing importance across the wider business environment. Today, it is not enough to “Know Your Customer” (KYC); you need to “Know Your Vessel” (KYV).
Effectively identify potential sanctions evasion – By analyzing vessel behaviors for Deceptive Shipping Practices, organizations can proactively identify counterparties that may expose them to sanctions risk.