The alert aims to promote awareness and encourage preventative action in firms’ processes and controls.
The report outlines the following indicators of potential sanctions evasion and avoidance:
➡️ Companies with limited trading history suddenly trading large volumes of oil;
➡️ Limited information on ownership, directors, or beneficiaries;
➡️ Multiple transfers between obscure companies;
➡️ Companies registered or operating in known jurisdictions of high risk and in particular regions where the shadow fleet is known to operate; and
➡️ A limited online presence or a presence using stock images with limited details.
✅ Firms should review the key indicators flagged in the report and incorporate them into customer due diligence and customer risk assessment processes and methodologies appropriately.
Sanctions
Industry News
