Know Your Customer

KYC began in the financial sector to ensure businesses are doing due diligence on customers to prevent fraud, money laundering, and terrorism financing. Over time, this has spread into other industries, and for the shipping industry, which often deals with high-value cargoes and operates across international borders, due diligence is a crucial tool for risk management and ensuring compliance.

To support the drive to improve risk and compliance standards and practices, the Baltic Exchange has developed a KYC Tool for the maritime industry and beyond.

Powered by Lloyd's List Intelligence, Moody’s Orbis for Compliance and Moody’s GRID databases, the KYC Tool collects data from multiple trusted sources, including a continuously updated risk data archive