Richard Buckley named his company 90 Percent of Everything to reflect shipping’s vital role in transporting the vast majority of everything that is traded worldwide. He is convinced that we’re on the threshold of a new way of looking at ship management, based on his experience of developing software to support what he calls ‘Management by Exception’ (MbE)
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Richard Buckley named his company 90 Percent of Everything to reflect shipping’s vital role in transporting the vast majority of everything that is traded worldwide. He is convinced that we’re on the threshold of a new way of looking at ship management, based on his experience of developing software to support what he calls ‘Management by Exception’ (MbE)
FIGURES from the United Nations Office on Drugs and Crime suggest the annual global value of laundered money is between $800bn and $2trn, representing between 2% and 5% of global GDP.
Much of this money is cleaned through trade-based money laundering, where criminals disguise the proceeds of crime through trade transactions to legitimise their origin.
When that money hits a bank account, its links to say a smuggling ring or drug cartel will be masked, and anyone that looks will instead be presented with a legitimate transaction, say for the sale of commodities.
With 90% of global trade transported by sea, shipping companies find themselves in an unwanted position of vulnerability.
It’s of course impossible to check every container and grain hold, but due diligence still has to be performed.
If not, the consequences can be severe, from a loss of reputation to even legal ramifications.
Lloyd's List: The Shipping Podcast
Richard Buckley named his company 90 Percent of Everything to reflect shipping’s vital role in transporting the vast majority of everything that is traded worldwide. He is convinced that we’re on the threshold of a new way of looking at ship management, based on his experience of developing software to support what he calls ‘Management by Exception’ (MbE)
