Compliance shift demands transaction screening

goods screening

Source: Mercator

Trade finance institutions must move beyond customer onboarding checks and screen every shipment for dual-use goods if they are to meet growing regulatory expectations, according to Pole Star Global

Robert Soban, director of Maritime Risk & Compliance at the maritime intelligence platform, said the compliance gap facing banks is no longer about identifying risky customers but demonstrating that every individual transaction has been assessed and documented.

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