Heightened Scrutiny on Transportation Sanctions Risks: New Shipping Advisories and Aviation Sanctions Compliance

November 19, 2019 1:15pm

Chris Po-Ba
Senior Manager, Compliance and Financial Crime
Lloyds (UK)

Lloyd Meadows
Senior Sanctions Advisor
Standard Chartered Bank (UK)

  • OFAC’s expectations for screening the operations of every vessel you are doing business with in the maritime supply chain: banks, energy traders, bunker service providers
  • What amounts to a risky transaction in relation to the purchase, acquisition, sale, transport or marketing of a product i.e. petroleum
  • How to effectively implement the risk mitigation measures via insurance, verifying cargo origin, reviewing documentation, KYC
  • Updating your compliance controls to account for specific types of vessel behaviours that are red flags seen through deceptive shipping tactics