The maritime industry continues to operate in a volatile climate.

Ever tightening sanctions regulations, Russian oil price cap restrictions, disruptions to shipping trade lanes and deceptive shipping practices all combine to create unprecedented challenges for compliance teams.

The Office of Foreign Assets Control (OFAC) has issued numerous shipping advisories to alert and inform those connected to the maritime industry of current and emerging deceptive shipping practices, as well as sanctions and export control circumvention and evasion tactics.

This new guide provides recommendations on what steps you can take to identify and minimise your exposure to risk, and expands on what OFAC outlined in May 2020, emphasising the need for more sophisticated customer due diligence procedures.

Covered in this guide includes:

  • A summary of the existing and emerging deceptive shipping practices used to circumvent international restrictions, with eight key focus areas. Spoofing has been added as a new area for focus.
  • Context around the evolving sanctions compliance crisis, and an overview of the key challenges facing the maritime industry.
  • A list of risk mitigation measures – what you can do to protect your compliance position.

Submit your details below to download the guide. Expand your knowledge on the current risk landscape in the maritime industry and what you can do to protect your business.

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