Refinitiv (owners of, amongst other things, the widely used World-Check) has produced a white paper, saying that phantom ships, sanctions evasion and potential links to financial crime mean seaborne business carries as many risks as those found on land. The white paper examines the regulatory pressures and best practice solutions for mitigating maritime risk.  It highlights the potential for illicit activity and financial crime to flourish at sea, and says that the Trump administration has significantly stepped up its regulatory focus on the maritime sector, including sanctions evasion.  The white paper cautions that when companies transport cargo by sea, they run the risk of engaging a vessel that is compromised and inadvertently facilitating or supporting illicit activities.  This can result in seizure, financial loss, inclusion on anti-terrorist and anti-criminal watchlists, and possibly severe reputational damage.  The white paper proposes enhanced due diligence as a preventive measure.


This illustration shows the complex ownership structure associated with a vessel convicted in Indonesia for the illegal fishing and transportation of CITES-protected species.

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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