How Marcura’s Compliance Expertise Safeguard Your Business and Mitigate Risks
Globally, individuals and entities are frequently added to sanctions lists, posing challenges to the routine operation of financial crime risk management programs. Best practices suggest adopting measures that go beyond merely screening names and identifiers from these lists.
However, identifying, validating, and analyzing this information is often a complex and resource-intensive process.
The greatest compliance challenges reported include:
keeping up with regulatory change
instilling a culture of compliance
increasing personal accountability
Operating within a constantly evolving framework of increased regulatory control, the world of compliance in shipping is complex and costly, with non-compliance costing on average 2.65 times the cost of compliance.
Source: Tackling Compliance-Related Concerns for Shipping Companies Report 2020.
Marcura is uniquely positioned to address many of our customers’ pressing compliance concerns by leveraging our:
scale advantages
extensive operational experience
access to professional advice
So Marcura has devoted substantial resources to achieve a robust compliance program and a sanctions compliance program that continuously monitors and mitigates the various risks which challenge shipping companies.
Against the backdrop of today’s difficult regulatory environment and in keeping with our commitment to foster a culture of compliance our Marcura Compliance Team, Anti-Financial Crime (AFC) Team and Specialist Compliance Escalation Resolution Team (SCERT) were established many years ago to help mitigate compliance-related risks.
Overseen by our dedicated compliance functions with direct access to our Board of Directors, our dedicated teams have a singular goal of maintaining the necessary systems and processes to minimise its customers’ exposure to legal, financial, transactional, regulatory, and operational risks.
