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 - and with 80% of all goods being imported by sea, the need for greater transparency in vessel ownership is more important than ever! Read the full report here . But the shipping industry's