PwC and Pole Star in maritime supply chain risk alliance
Written by staff reporter
PwC has entered into a partnership with maritime fleet monitoring and risk management solution provider, Pole Star, to provide organisations involved in international trade with legal and regulatory services.
The new strategic alliance will help assist global financial institutions in managing risk in maritime supply chains. Pole Star’s PurpleTRAC solution screens ships and their associates for sanctions compliance and monitors historical and real-time movements.
PwC Forensics director Ben Luddington said he believes the new alliance will help many of its clients tackle their sanction-related risk and compliance issues. “With 90% of world trade transported by sea, and trade increasingly being used as a mechanism to facilitate financial crime, the need for technology to help solve compliance challenges is more crucial than ever," he said.