Baltic Exchange has reduced the cost of its sanctions, PEPs and adverse media search function on the offical Baltic KYC Platform, reinforcing its commitment to delivering tangible value to members and the wider industry.

The new pricing model reflects a material step-down from historic levels, with new pricing introduced to an introductory offer of 15 credits (members) or 18 (non-members) for the next six months. Each credit being equal to £1.

This initiative has been undertaken to ensure that members are better equipped to undertake robust due diligence in an environment characterised by increasingly complex, dynamic and fragmented sanctions regimes. This comes at a critical time where expectations around compliance continue to rise and the cost of getting it wrong is materially higher.

By lowering the cost of these critical compliance tools, the Baltic is supporting KYC users to:

- Conduct more frequent and comprehensive sanctions screening as part of their daily workflows

- Access integrated sanctions, PEPs and adverse media intelligence within a single platform

- Enhance their ability to identify and mitigate counterparty risk at an earlier stage

- Operate with greater confidence in the compliance and integrity of their trading relationships

In practical terms, these reduced costs lowers the barrier to repeated and routine checks, encouraging a more proactive approach to compliance rather than a purely reactive one.

The enhancements form part of the ongoing development of the Baltic KYC Platform, which continues to evolve in response to member feedback and the realities of the current geopolitical and regulatory landscape, strengthening its role as a trusted compliance and risk management tool for the global shipping community.

 

Find out more about ongoing sanctions and Know-Your-Customer challenges through the Baltic Know Your Customer (KYC) Platform. Click here to access today.

To learn more about KYC and the Baltic Know Your Customer (KYC) Platform, please click here.