On 26 April, an article from Global Trade Review said that nearly three-quarters of vessels active in international trade that do not list their ownership information are likely to have potential ties to illicit activity, fresh research has found.  The report is from Global Financial Integrity, the Institute of International Banking Law & Practice (IIBLP) and S&P Global.  An analysis of nearly 70,000 vessels – including tankers, bulk carriers and container ships – shows that 23,000 had links to watchlists or engaged in deceptive practices, such as “dark” activity during 2022.  The report identifies around 8,000 vessels involved in trade that do not list ownership information, equivalent to around 12% of the global fleet, but it is said that the impression is that checking vessel ownership is fairly low down the checklist in terms of compliance processes.

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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