Compliance management

Trading with confidence through our industry leading compliance standards.

Our purpose

Our purpose is to ensure business ethics and transparency within the organisation, while remaining committed to supporting and protecting business opportunities and relationships

 

Role and functionality

We look at the risks posed by Sanctions, Money Laundering & Terrorist Financing, and Bribery & Corruption, and adopt all necessary measures to manage and mitigate these risks in line with, and often above, industry best practice. In a global market vulnerable to high-risk transactions, we are consistently aligned with international regulations on sanctions, bribery and corruption and observe strict compliance when conducting enhanced due diligence on all our vessels and counterparties.

 

Every vessel and counterparty in our system is screened for sanctions concerns before supply. We also check for adverse media, political exposure and other risk factors and if any issues are found, the trader needs compliance clearance before going ahead. This means that if the counterparty is politically exposed, owners of the vessel are unknown, if a vessel has recently been to Syria, or if a vessel is flagged in Cuba, for instance, Compliance will have the last word on the deal.

 

Key features

  • Implementation of sophisticated and effective tools to minimise our compliance risks with specific regards to sanctions.
  • Strict corporate housekeeping as well as active monitoring and screening of all our counterparties and vessels thereby allowing us to react immediately should an issue arise.
  • A global team of specialists covering all major time zones.
  • A member of the Maritime Anti-Corruption Network which further illustrates our commitment to ensuring good corporate practices within the maritime industry to tackle bribes, facilitation payments and other forms of corruption. 

 

 

 

For more information about compliance, please contact: 

 

compliance@monjasa.com

 

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