Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Descartes, Kharon partner on sanctions risk intelligence

GRC Announcements | March 22, 2019

Software as a service (SaaS) solutions provider Descartes Systems Group announced that it has integrated research company Kharon’s sanctions ownership data with its denied party screening solutions to help organizations ensure they are not conducting business with entities that are majority-owned by individuals or companies under the Department of the Treasury’s Office of Foreign Assets Control (OFAC) regulations.

Also known as the 50 Percent Rule, the requirement is aimed at reducing the risk of sanctions evasion, terrorist financing, money laundering, and other illicit finance threats by prohibiting or restricting transactions with entities that are owned 50 percent or more by a single prohibited person or by a combination of prohibited persons equal to 50 percent or more—regardless of whether such entities appear on OFAC’s Specially Designated Nationals and Blocked Persons List (SDN List), Sectoral Sanctions Identifications List (SSI List), or the annex to an executive...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.