The paper explores the challenges financial institutions face in identifying and mitigating sanctions, fraud and trade-based money laundering risks linked to maritime shipments. It clarifies the scope and limitations of transaction-level vessel checks, outlines relevant regulatory expectations, and discusses key operational challenges and practical considerations for implementation.
The publication also highlights industry best practices and provides risk-based guidance on the use of vessel checks in trade finance transactions.
ICC Financial Crime Risk Controls Vessel Checking Guide Aug 2026.pdf