The energy industry has never been far from risks stemming from corruption, terrorism financing, sanctioned jurisdictions, and designated entities.
Law and accounting professionals are required by law to screen clients before providing services.
Negligence, lax reporting habits, opaque practices, understaffing and underestimation of the potential of criminal abuse have so far kept the High Value Goods and the Arts Market a side note for regulation.
The regulated industry is all about adequate, knowledgeable management of a variety of risks.
Insurance is an industry where awareness or the lack of it establishes the criterion for success in compliance.
Innovation and mobility are at the heart of disruptive online banks, alternative payment systems, and FinTechs who transform the face of banking and finance.
The infrastructure & construction industries are at the very centre of the intersection of political interest, strategic moves, trends, and economic growth.
The regulatory glance has never been stricter for Pharmaceutical and Life Sciences sector.
The increase in value; low barriers of entry, the prestige and the sense of security that comes with property ownership have so far rendered real estate an irresistibly attractive investing option.
Petroleum and other commodities provide a lifeline for many regimes; thus, energy routes and parts of energy operations are instrumentalised for evasion strategies. Several upstream energy operations are located in geographical hot spots prone to conflict, some of them subject to corruption-ridden jurisdictions, and vulnerable to exploitation by terrorists – crude oil has been used as a means of financing illegal organizations.
Mid and downstream operations on the other hand, are exposed to heightened risks of environmental non-compliance, where failures can impact transportation, relationships with clients and suppliers, and bring on fines, criminal charges.
Petroleum and other commodities provide a lifeline for many regimes; thus, energy routes and parts of energy operations are instrumentalised for evasion strategies. Several upstream energy operations are located in geographical hot spots prone to conflict, some of them subject to corruption-ridden jurisdictions, and vulnerable to exploitation by terrorists – crude oil has been used as a means of financing illegal organizations.
Mid and downstream operations on the other hand, are exposed to heightened risks of environmental non-compliance, where failures can impact transportation, relationships with clients and suppliers, and bring on fines, criminal charges.
Exemptions, contextual shifts, secondary sanctions, political interventions, and policy changes create a complicated picture for energy actors. A vital, and sophisticated industry threatened by both standing and emerging risk factors, new realities, and legislative ordeals; risk management for the Energy industry must be based on long-term thinking, and adaptability.
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