PwC has started working with Pole Star, a maritime security software developer, to assist firms involved in maritime trade, including trade finance, in complying with regulatory and legal standards.

Pole Star’s sanctions compliance screening and vessel tracking solution PurpleTrac, which screens ships and their associates for sanctions compliance and monitors historical and real-time movements, will allow PwC clients to better manage their sanction-related risk and compliance issues.

PwC recognises the technology potential in helping to tackle 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,” says PwC forensics director Ben Luddington. “We believe Pole Star’s innovation may help many of our clients tackle their sanction-related risk and compliance issues.”