Sanctions compliance is critical for shipping stakeholders across the maritime ecosystem. In recent years, the relatively simple task of remaining compliant with regulations evolved into a more challenging process, due to the dynamic nature of the maritime ecosystem, the cat-and-mouse deceptive shipping practices game, and a lack of advanced tools that offer accuracy and actionable visibility.
Mere list screening is too static and reactionary. It only gives organizations a picture of the currently known bad actors, but the maritime ecosystem is extremely dynamic and illicit actors are using sophisticated deceptive shipping practices (DSPs), such as location tampering (GNSS).
Traders and shippers, and government and defense agencies, must make the shift from sanctions screening to effective risk management, so they can be more proactive about obtaining actionable visibility, and determine their appetite for risk vs. their desire to facilitate global trade.