On July 27, the United Kingdom’s Office of Financial Sanctions Implementation (OFSI) at her Majesty’s Treasury released financial sanctions guidance for entities and individuals in the maritime sector. This guidance follows on the May 14 release of the U.S. Government’s comprehensive Global Sanctions Maritime advisory, which outlined the compliance measures the U.S. Government expects financial institutions, corporations, and other businesses in the maritime sector put into place to limit sanctions risk.
Together, these new guidelines raise the compliance bar substantially for companies operating in the maritime sector around the world. Understanding the increased obligations created by these new guidance documents – as well as their core differences – is critical to protecting companies from sanctions exposure. Further, understanding how illicit actors attempt to exploit the shipping sector, as observed recently in the case of Venezuela, is necessary to ensuring your companies are not inadvertently engaged in prohibited activity.
This webinar, hosted by K2 Intelligence/Financial Integrity Network, Windward, and C4ADS, will provide an overview of the new U.K. maritime guidance, including a discussion of how it is similar to—and different from—the recent U.S. guidance. In addition, the webinar will feature an original case analysis of Venezuela’s shipping sector risks. Our panelists will analyze illicit Venezuelan shipping activity, as well as trends in maritime sanctions risks more generally. Their legal, analytical, and industry perspectives provide a unique commentary on the real and regulatory sanctions risks facing the maritime industry.
Ami Daniel, CEO and Co-Founder, Windward
Eric Lorber, Vice President, K2 FIN
Sofia Vargas, Analyst, C4ADS
Juan Zarate, Global Co-Managing Partner and Chief Strategy Officer, K2 FIN
This webinar is exclusive to the DOLFIN platform. Click here to contact our team to request access or find out how DOLFIN can empower your institution to better manage AML/CFT, Sanctions, and ABC risk.
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