Some of the world's major shipping registries recently established an information-sharing database, one objective of which is to prevent "flag hopping" by vessel owners and operators attempting to circumvent international sanctions.
The shipping registries of Panama, Liberia, the Marshall Islands, and others have formed the Registry Information Sharing Compact (RISC) database. Developed as a free online communications channel, RISC is supported by a number of global embassies and the US Department of State.
The database provides detailed information on vessels' respective histories, allowing flag states to be updated on any issues that may constitute sanctions violations. Registries can collaborate in identifying vessels that may be involved in suspicious activity, and vessels can be prevented from switching flags while they are being investigated.
The plan to form RISC was initially announced in February 2020. Panama, Liberia, the Marshall Islands were the first registries to join, and these were followed shortly afterwards by Palau, Honduras, Comoros, and Saint Kitts and Nevis.