New reporting service delivers critical analysis and data on possible sanctions evasion to meet regulatory requirements
Posted on: 5 February 2020
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 bunkerers – 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 follow this link.