PurpleTRAC

The sanctions landscape, inherently guided by the state of global affairs, has never been more complex and rapidly evolving. With regulators now focusing on the entire maritime trade supply chain, ensuring that proper due diligence and risk management processes are in place has never been more important. 

Regulatory risk can be associated with all aspects of a trade transaction: the goods being traded, the origin of the goods, the buyers and sellers, the cities and ports along the shipping route, and the shipping vessels themselves. 

Designed with and for companies with regulatory exposures in maritime trade and shipping, PurpleTRAC enables the automation, streamlining, and recording of your regulatory processes and mitigates the risk of money laundering and terrorist financing, alongside the criminal, reputational, and commercial damage that would occur as a result of noncompliance.

PurpleTRAC is used by major international trade financing banks, trading companies, governments and flag administrations, maritime insurers, ship financing and leasing companies, and other members of the supply chain to demonstrate best efforts in compliance, all within an easy-to-use, web-based solution with API and DLT node application availability.

As a single service solution, incorporating best in class data and sanctions watch-lists, PurpleTRAC is a new advanced method of dealing with regulatory risk and sanctions in the maritime transportation sectors. Users are able to configure their own unique risk parameters to generate accurate results in seconds, saving time and money, while producing that all-important audit trail.

Dow Jones’ RiskCenter Trade Compliance allows users to conduct routine checks on all key aspects of a transaction to ensure compliance with sanctions and dual use goods regulations. Trade Compliance now includes access to PurpleTRAC for a more complete view of regulatory risks faced by organisations with exposures in maritime trade.

RiskCenter Trade Compliance Features:

• Dual-use goods data: Use best-in-class goods data for coverage of all major export control regimes.
• Accurate matching: Match phrases with strongly correlating dual-use goods’ descriptive terms in letters of credit, bills of lading, and other trade instruments, using specialized research methodology.
• Quickly investigate a true hit: View full context for goods search results when provided with a goods code, but no textual description.
• Origin and destination information: Check route information, including sub-regions, cities, seaports, airports, and free trade zones in sanctioned areas (with coverage available in multiple languages).
• Check involved parties: Check sanctions and official lists relevant to trade counterparty risk