The two companies sign multi-year deal to optimise sanctions compliance and export control programmes
Emirates SkyCargo has announced that it is working with Accuity, the leading global provider of financial crime compliance, payments and Know Your Customer (KYC) solutions, to help automate and streamline its regulatory compliance screening operations, increase efficiency and improve the speed of service to its customers.
Emirates Sky Cargo has implemented Firco Trade Compliance, an Accuity solution that efficiently screens shipment documentation (such as airway bills) against sanctions, dual-use goods and regulatory watch lists, within a single interface.
The new solution enhances Emirates SkyCargo’s current process, enabling the business to automate approximately 6mn compliance checks each month. This will significantly improve efficiency, while enabling Emirates to uphold the extremely high compliance standards that sit at the heart of its ethos.
“Working with Accuity has enabled us to screen our very high volumes of shipments more efficiently ensuring that we comply with all international regulations,” affirmed Henrik Ambak, Emirates Senior Vice President, Cargo Operations Worldwide.
Firco Trade Compliance is an award-winning solution that was originally developed to enable banks to detect sanctions risks in trade finance transactions. Through collaborative innovation with clients, Accuity has adapted the offering to cater to the freight industry’s large-scale and highly complex operational requirements.
Cargo operators are responsible for conducting due diligence on the parties and items involved in every shipment they facilitate. This includes verifying the legitimacy of the sender and recipient, checking for dual-use or controlled goods (for example, those that could have a military purpose), and ensuring the shipment is not going to or coming from a prohibited location.
“By working in close partnership with Emirates SkyCargo, we are redefining best practice and setting a new standard of compliance for other cargo operators to follow,” assured Sophie Lagouanelle, Vice President-Financial Crime Screening, Accuity.
