What is 3 Sea Diligence?
3 Sea Diligence offers the members of MACN with a one-stop solution for managing third-party risks, by giving them access to standardized due diligence and KYC tools, a centralized and secure repository to store and share information, and a user-friendly interface for easy search and filter of information, thus enabling them to implement a more comprehensive compliance and anti-corruption program.
On-demand screening of counterparties and review of compliance and risk scorecards, including access to official documents
Option to continuously monitor counterparties against sanctions and other regulatory lists, including politically exposed persons (PEPs)
Opportunity to request for enhanced due diligence, including access to detailed beneficial ownership information, corporate structures and relationship networks
For those conducting due diligence
- Save cost and time
- Scale benefits
- Reduced turnaround time
For those subjected to due diligence
- Upload information in a single repository and in a standard format
- Save time
- Exposure to MACN members
- Access to capacity-building tools
For MACN and the maritime industry as a whole
- Revenue can be re-invested into capacity building and collective action to improve the operating environment