New reporting service delivers critical analysis and data on possible sanctions evasion to meet regulatory requirements
January 28, London: – Windward, a world leader in maritime analytics, today announced the launch of a new service that will help organizations across the maritime ecosystem reduce their sanctions risk, and meet regulatory expectations for vessel behavioral analysis, while freeing up compliance resources.
Ami Daniel, CEO of Windward, said: “Everyone we speak to – be they insurers, bankers, traders or bunkering service providers – tells us how concerned they are about the difficulty of staying on top of sanctions. Regulators now expect organizations to apply in-depth behavioral analysis to screen for suspected sanctions evasion. But to do this manually – and in a timely fashion so that business can continue – is almost impossible without significantly increasing compliance resources and costs. Organizations of all sizes find this tough, but for businesses without dedicated sanctions compliance departments, it’s especially challenging.”
The new service from Windward provides ongoing screening and timely analysis of high-risk activities. Organizations with this information can feel safe and keep their business on track.
As part of the launch, Windward is offering companies a complimentary sanctions review, analysing their exposure to sanction risks. During February and March 2020, companies can receive:
- An audit of their ships’ activities for sanctions risk
- An overview of suspicious behavior in or near sanctioned countries
- A breakdown of the ships’ main behavioral risk drivers
- A list of named ships with recent suspicious activities
For more information, please visit https://windward.ai/risks/compliance/
Windward fuses big data, AI and maritime expertise to make the seas safer, and help the maritime ecosystem thrive. Its AI-driven insights help organizations stay ahead of the game, enabling companies to comply with sanctions; assisting governments in curtailing smuggling and people-trafficking; and helping marine insurers optimize risk selection and improve profitability. Founded in 2010, the company is backed by leading figures from the worlds of business and security, including former BP CEO, (Lord) John Browne; Salesforce Chairman & CEO, Marc Benioff; and former CIA Director, David Petraeus. The company is headquartered in Tel-Aviv, with offices in London and Washington D.C.