NCA Red Alert: Russia's Shadow Fleet Sanctions Evasion

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.