We check every party and every cargo before we trade.
Energy trading carries sanctions, fraud and corruption risk. Our controls are designed to keep that risk away from our clients, and away from public funds.
- Know your customer
- We verify legal existence, ownership down to the ultimate beneficial owner, directors and authorised signatories for every buyer, seller, vessel owner and intermediary.
- Sanctions screening
- Every party, vessel and cargo origin is screened against EU, UN, UK (OFSI) and US (OFAC) sanctions lists at onboarding and again before each shipment. We comply with EU restrictive measures, including price cap rules where they apply.
- Anti-money laundering
- We apply risk-based due diligence consistent with EU anti-money laundering directives. Payments are made only to and from accounts in the contracting party's name at regulated banks.
- Anti-bribery and corruption
- We prohibit facilitation payments, gifts to public officials and undisclosed commissions. Any agent or intermediary is contracted in writing, screened and paid only through traceable bank transfers.
- Origin and chain of custody
- We verify the origin of each cargo through producer documents, loading records, bills of lading and vessel tracking, and reject cargoes with gaps in their history.
- Vessel vetting
- Vessels are checked for ownership, flag, classification, P&I insurance and trading history, including gaps in AIS transmission, before they are chartered.
- Data protection
- Personal data collected during onboarding is processed under the EU General Data Protection Regulation and kept only as long as the law requires.
- Reporting concerns
- Anyone can report a suspected breach confidentially to our compliance officer. We do not tolerate retaliation against people who report in good faith.
Protect yourself from fraud
Fraudsters use the names of real trading companies to sell cargoes that do not exist. Black Pearl will never:
- ask for advance fees, "procedure fees" or payment to a personal account
- send contracts or bank details from a free email address
- offer product at a price far below the published market benchmark
- ask you to issue a proof of funds or bank instrument before KYC is complete
If you receive a suspicious offer in our name, contact info@blackpearloil.com before you act on it.