UK Issues Maritime Sanctions Compliance Tips

The U.K. Office of Financial Sanctions Implementation on April 2 released a blog post covering compliance with financial sanctions in the maritime sector. The agency listed six tips to stay compliant with the sanctions, including understanding your "counterparties" and conducting "thorough due diligence." OFSI also called for "robust compliance policies and procedures" and to invest in "technology and screening tools." Companies should also conduct "ongoing training and awareness programs," stay informed about new sanctions and create environments for "collaboration and information sharing."