Basic entity details are available via MERN free of charge.
For Baseline Due Diligence and Enhanced Due Diligence, along with document overview, subscribing to MCaaS’ screening services is required. These subscription-based details will include sanctions screening results on the entity, its subsidiaries and associated entities, management details, verification of PEP/RCA exposure of corporate officers, SOC and UBO details.
What will the collected information be used for?
Maritime Compliance as a Service (MCaaS) is responsible for standardizing the provided information and checking the supporting documentation, which will in turn be utilized for corresponding sanctions screening and issuance of MERN. By applying for MER Number, MCaaS will utilize the collected information to conduct enhanced due diligence backed by RegTech industry requirements to help raise transparency, accountability, and compliance in the maritime industry.
Are all entities with MERN subject to sanctions screening?
MCaaS screens all entities before they are awarded the corresponding MER Number.