E53: Why banks are increasingly worried about the shipping industry
In this episode, we're diving into the murky world of shipping and its challenges for banks. With little oversight and a global reach, the maritime industry presents complex problems for banks navigating regulatory compliance.
Our expert guests, Tom Cardamone and Michael Byrne, CEOs of Global Financial Integrity and the Institute of International Banking Law & Practice, respectively, take us through the increasing pressures on banks to combat sanctions and combat financial crime compliance evasion.
We explore the staggering statistic that 12.2% of active ships and vessels have unknown owners…
The skinny
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