Compliance

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, as well as for adverse media, political exposure and other risk factors. 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, the Compliance department will have the last word on the deal.

Key features

  • Implementation of sophisticated and effective tools to minimise our compliance risks.
  • 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.
  • Monjasa is an active member of the Maritime Anti-Corruption Network (www.maritime-acn.org), and works towards the vision of a maritime industry free of corruption that enables fair trade to the benefit of society at large. We are committed to ensuring good corporate practices within the maritime industry to tackle bribes, facilitation payments and other forms of corruption.