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In an increasingly complex regulatory environment, it is vital for businesses to highlight and assess risks associated with status or operations that can influence or change the way they deal with shippers, suppliers, or their own customers. 

When comparing maritime trade risk solutions in the market, we list the main jobs carried out by compliance professionals to help you evaluate which solution is the best fit. 

So, let’s compare our newest solution with other leading solution providers in the maritime industry to make your decision easier.  

What they offer 

Features

ARC

Competitor A

Competitor B

Competitor C

KYC check

Trading Insights (the trading profile of a
vessel in context with its risk)

Maritime companies' financial risk

Compliance Screening

Sanctions compliance screening checks
(red, amber, green)


Screen against vessels, owner
and flag for sanctions


Known as their risk screening tool –
owner and vessel


Screening against vessel owners,
flags (includes flag hopping)


Screen against vessels, owner
and flag for sanctions

Determine AIS Gaps
(removing false positives)


Use of ML models to differentiate
between a coverage loss
and AIS switch off


Use of ML models to differentiate
between a coverage loss
and AIS switch off


No modelling – have seen false positives,
such as AIS gaps when a vessel is in port


No modelling approach,
but do have access to Inmarsat C
position data where AIS is not present

AIS Spoofing Detection
(Probable true location)


Real-time detection
with probable true location


No validated vessel position
from proprietary AIS network


No AIS Spoofing Detection


Lack of evidence on whether the
detection happens in real-time

Dark Port Calls


Determines when it happened
and gives user possible ports


Alerts to possible ports
linked to dark activity


Only determine Dark Activity.
No further determination


Only determines ‘periods of non-reporting’.
No further determination

Dark STS (1 way)


Determines when it happened
and gives user possible vessels


Only identify “Dark Activity”.
Will let the user determine which vessel


Only determine Dark Activity.
No further determination


Only determines ‘periods of non-reporting’.
No further determination

Dark STS (2 way)


Determines when it happened
and gives user possible vessels


Only identify “Dark Activity”.
Will let the user determine which
vessel not when both are dark


Only determine Dark Activity.
No further determination


Only determines ‘periods of non-reporting’.
No further determination

Abnormal movement detection - loitering


Detects loitering events as an
indicator for 1 way dark STS


Detects loitering events
against all vessels


Claims to detect irregular activity
but no mention or proof


No abnormal movement detection

Managing escalations

In-platform escalations
(beyond traditional email escalation)

Event Log


Voyage event log indicating
when key events happen


Have a very
detailed event log


No event log
just AIS positions


No event log
just AIS positions

Tailored compliance focused workflow
(personalisation, audit trail)


Set own historical time period
to fit risk appetite plus audit trail


Some personalisation
but no audit trail


Have watchlist feature only


Have an audit trail
and watchlist feature

Monitoring vessels

Monitoring list with Alerts


Customise compliance alerts
and get alerted to any
changes in the risk profile


Customise compliance alerts
and get alerted to any
changes in the risk profile


Some personalisation


Some personalisation

In conclusion, we can see Seasearcher Advanced Risk & Compliance outperforms  alternative solutions with the following key benefits: 


1. Single source of truth with delivery of comprehensive data, unparalleled for its accuracy and depth.

Assess the financial health of maritime companies and any connections to illicit or illegal activities, for a complete view of risk exposure you couldn’t join together yourself. 

In addition to strategic partnerships with terrestrial receivers, satellite providers and port agents, what sets Seaseacher Advanced Risk & Compliance apart are its exclusive data sources. We have hundreds of sources and more than 500 Lloyd’s agents in over 170 countries. Our database covers 100% of the live commercial fleet, over 400 million AIS messages processed daily & over 250,000 ship owning and operating entities. 


2. Analytics and intelligence that gets you to the compliance insight you need, quickly.

Gain a clear understanding of a vessel’s trading pattern in context, with flags for previous illicit activity in time periods defined by you. Avoid unnecessary investigations with contextual intelligence that highlights when an anomaly or AIS gap might result in a compliance breach.

Seasearcher Advanced Risk & Compliance combines quality data with machine learning to generate only valid risks for your investigation, removing false positives.  

Based on our customer analysis, our solution greatly expedites the time used to complete an investigation, up to 50% faster.


3. Simpler investigations with one informed view

Quickly fulfil detailed investigations with irregular voyage behaviour all in one event log, and confidently present your decisions with tailored reports as evidence.

Seasearcher Advanced Risk & Compliance ‘s traffic light system details the  red, amber, green (RAG) status for vessel risk levels to help you assess  exposure to risk quickly and efficiently. 


4. Tailored visibility of what is going on at sea and in your business 

Stay alert to new compliance risk – with tailored monitoring lists and compliance risk alerts. Never miss illicit activity involving your vessels of interest. Complete audit trails for a robust compliance procedure with every check, escalation, all managed in one single platform.


Your solution of choice

Trade compliance screening, Know Your Customer (KYC) checks and investigating possible illicit maritime trading activity has never been more complex. It’s essential to move quickly and act precisely, but these processes can be complex, time-consuming and prone to human error. 

Seasearcher Advanced Risk & Compliance gives a new view of validated maritime trading risk and context on which to base and evidence compliance decisions that could: 

  • Speed up your compliance checks by 25%.
  • Reduce time on investigation by 50% with removal of false positives
  • Reduce your workload by 62.5 hours per day with a one-stop solution 
  • Seamlessly integrate the solution into your business with web platform or API data feeds

Contact us today to book your exclusive demonstration with our industry expert.