Sanctioned Party Ownership Screening
Simplify your efforts to comply with sanctioned party ownership regulations and mitigate the risk of doing business with the multitude of parties with whom it may be unlawful to do business.
Enhance your sanctioned party ownership compliance
With Descartes Visual Compliance™ Sanctioned Party Ownership Screening, you’ll gain access to relevant ownership and controlling interest data as it pertains to sanctioned parties. And, with it, the power to prevent potential compliance violations related to OFAC’s “50 Percent Rule” and other sanctioned party ownership thresholds, including those maintained by the European Union.
How we can benefit you
Mitigate the risk of doing business with entities controlled by unlawful parties
- Enhanced Compliance
Screening for sanctioned ownership helps decrease the risk of fines, penalties, and negative news coverage.
- Save TimeGet up and running quickly with a streamlined implementation process.
- Improve ConsistencyEstablish organization-wide compliance by leveraging a SaaS-driven solution with worldwide access, 24/7.
- Stay Up-to-DateKeep on top of frequent changes in ownership structures with up-to-date data
- Prioritized Compliance ResultsFast, accurate results containing all the necessary regulatory compliance information organized by relevant details and alert levels
Solving compliance challenges
Helping organizations mitigate risk and stay compliant with efficient and precise processes
The initial feedback from the employees was, ‘this is awesome. This is a huge improvement, we love it.’ … Descartes Visual Compliance™ has managed to save us nearly 28,000 man-hours per year, and reduce our compliance risk exposure.
Due to the rising importance of compliance in our sector, we needed an automated screening solution that is efficient and highly reliable. Implementing the Descartes solution has resulted in a more systematic and efficient screening practice, which has significantly reduced costs and risks for the company and its clients.
Embedding Descartes Visual Compliance into our internally-developed systems and leveraging its automated screening capability has helped us to keep pace with the growing number of contracts that we manage. The technology increases capacity in the compliance team to focus on more strategic activities, such as training and internal stakeholder engagement.
You can’t grow your business if you keep doing manual screening. Descartes Visual Compliance was very easy to integrate into our existing ERP and sales platform. Now we have an automated way to check every order as it comes in. There’s no manual screening and we only have to go in to check when there is a flag.
By automating screening of our trade partner database against denied party lists and determining appropriate export license requirements, Argosy has realized a 75% productivity gain in our compliance practice. Descartes Visual Compliance has allowed us to focus more resources on international growth, better mitigate risk and ensure we achieve 100% trade compliance rates.
Curated and verified for quality
Our solution uses renowned suppliers of business information and research vetted by prominent worldwide experts
- Accurate business information
- Vetted research
- A global network of validation experts
- Up-to-date data
Results are returned with pertinent details on the percentage of ownership by sanctioned individual or entity
- Reveal true ownership
- Check clients, customers, and third parties
- Demonstrate additional due diligence
- Precise details and accurate percentages
Built-in record keeping
Descartes Visual Compliance provides a full range of automatically recorded information
- Automatically record screening details
- Easily demonstrate compliance due diligence
- Single source of truth
Sanction and embargo compliance
Reduce the risk of engaging with sanctioned individuals or entities, and embargoed countries
- Mitigate risk
- Avoid violations involving sanctioned parties
- Easily check for embargoed countries
Streamline your compliance journey
Denied Party Screening
Comply with international trade regulations and avoid dealing with unauthorized parties.
Facilitate fast and accurate export classification decisions.
Streamline your export documentation, compliance, and licensing processes.