More NewsAccuity to Integrate IHS Fairplay’s Maritime Information

Accuity to Integrate IHS Fairplay's Maritime Information

Accuity, the payment routing data and anti-money laundering (AML) screening software and services provider, is to integrate maritime information from IHS Fairplay into its Global WatchList data. This additional data will bolster Accuity’s ability to provide the most up-to-date and comprehensive coverage available for vessels associated with Office of Foreign Assets Control (OFAC) sanctioned countries.

IHS Fairplay maintains the largest maritime database in the world, with comprehensive characteristics of 180,000 ships and more than 200,000 maritime company records including ship owners, managers, operators and shipbuilders. By combining this specialised data with Accuity’s Global WatchList data customers can now screen for almost 2,000 vessels that can be linked to sanctioned countries – a much greater number than the 192 current vessel listings in the OFAC specially designated nationals (SDN) list.

The ability to identify transactions or shipments involving vessels associated with OFAC sanctioned countries allows extra scrutiny to be applied, which is critical as the vessel itself or its cargo may be blocked or prohibited. OFAC can fine or otherwise penalise a firm for not blocking a transaction with a vessel or facilitating a shipment containing cargo that falls under sanction program requirements, regardless of whether it has been publicly listed.

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