PwC forges maritime supply chain link with Pole Star
Big Four firm will work with Pole Star to explore new ways to assist financial services companies involved in maritime trade
PwC has established a strategic alliance with maritime fleet monitoring outfit, Pole Star, in a bid to help organisations better manage their legal and regulatory obligations when trading internationally.
The Big Four firm will now work with Pole Star, a leading provider of remote fleet monitoring, risk management and ship security, to “explore new ways to assist financial services companies involved in maritime trade”, including trade finance.
Ben Luddington, PwC forensics director, said: “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.
“We believe Pole Star’s innovation may help many of our clients tackle their sanction-related risk and compliance issues.”
Pole Star’s PurpleTRAC solution screens ships and their associates for sanctions compliance and monitors historical and real-time movements.