WISTA-UK discusses maritime corruption

Corruption and bribery in the maritime industry was the key topic of conversation at the Womens’ International Shipping and Trade Association UK (WISTA-UK) Annual General Meeting (AGM) in London where the association discussed ways that stakeholders could take collective action to stop corruption while achieving compliance and mitigate commercial risks.

Jake Storey, vice chairman of the Maritime Anti-Corruption Network (MACN) said: “About 90% of world trade is transported by vessels. However, historically the maritime industry has turned a blind eye to bribery and corruption within its industry. Key players within the supply chain are demanding greater compliance which creates a real challenge for maritime companies wanting to trade and operate globally.”

He continued: “We are hoping that as data becomes more robust, companies may be able to identify hotspots that provide intelligence and the relevant knowledge for people to develop action-orientated recommendations to tackle corruption in the area.”