News & Events

Learn how Descartes MK Denied Party Screening solution provides organizations of all sizes with easy-to-use options that quickly and efficiently screen customers, suppliers and trading partners against a comprehensive database of international restricted and denied party lists.

Date and time: Wednesday, August 16, 2017 2:00 pm Eastern Daylight Time (New York, GMT-04:00) [ Wednesday, August 16, 2017 11:00 am Mountain Time (Arizona, GMT-07:00); Wednesday, August 16, 2017 1:00 pm; Central Daylight Time (Chicago, GMT-05:00)]
Duration: 1 hour 15 minutes

Register

During this live webinar, a MK Data Services domain expert will give in-depth training on best practices for screening, maximizing search tools, and utilizing the menu options. There is never a charge to attend a training session.

Date and time: Thursday, August 17, 2017 1:00 pm - Eastern Daylight Time (New York, GMT-04:00) 
[Thursday, August 17, 2017 10:00 am - Mountain Time (Arizona, GMT-07:00); Thursday, August 17, 2017 12:00 pm - Central Daylight Time (Chicago, GMT-05:00)]

Duration: 1 hour 15 minutes

Please Note: Client ID is required to register

Register

While there is no universally agreed upon definition of politically exposed persons, the global Financial Action Task Force (FATF) defines a PEP as an individual with substantial political influence or who fulfills a prominent public function. Many countries have initiated or are revisiting anti-corruption laws targeting PEPs and the impact of violating PEP laws can be extensive and costly.

Read more about compliance regulations concerning PEPs on the Descartes' blog.

Businesses today are well aware of cyber-related sanctions and maintain a standard checks and balances process to reduce risk and maintain compliance with government regulations. The U.S. Office of Foreign Assets Control is now populating Denied Party Screening (DPS) lists with names and companies utilizing DPS software are taking steps to avoid business transactions with individuals, entities or organizations associated with cyber-crime as per U.S. watch lists.

Read more about countering cyber threats with Denied Party Screening on the Descartes’ blog.

Download a complimentary whitepaper on Denied Party Screening (DPS), or Modern Sanctioned Party List Screening and Export Compliance, a review of denied, sanctioned, and restricted parties required to minimize risk and to lessen the potential of substantial fines. Increased electronic connectivity is coupled with a certain degree of risk and a greater probability that business may be transacted with denied, sanctioned or restricted parties, resulting in the possibility of sanctions and fines.

Read more about the fines associated with doing business with denied parties and download the whitepaper on the Descartes’ blog.

 

During this live webinar, a MK Data Services domain expert will give in-depth training on best practices for screening, maximizing search tools, and utilizing the menu options. There is never a charge to attend a training session.

Date and time: Thursday, September 21, 2017 1:00 pm - Eastern Daylight Time (New York, GMT-04:00) 
[Thursday, September 21, 2017 10:00 am - Mountain Time (Arizona, GMT-07:00); Thursday, September 21, 2017 12:00 pm - Central Daylight Time (Chicago, GMT-05:00)]

Duration: 1 hour 15 minutes

Please Note: Client ID is required to register

Register

During this live webinar, a MK Data Services domain expert will give in-depth training on best practices for screening, maximizing search tools, and utilizing the menu options. There is never a charge to attend a training session.

Date and time: Thursday, October 19, 2017 1:00 pm - Eastern Daylight Time (New York, GMT-04:00) 
[Thursday, October 19, 2017 10:00 am - Mountain Time (Arizona, GMT-07:00); Thursday, October 19, 2017 12:00 pm - Central Daylight Time (Chicago, GMT-05:00)]

Duration: 1 hour 15 minutes

Please Note: Client ID is required to register

Register

During this live webinar, a MK Data Services domain expert will give in-depth training on best practices for screening, maximizing search tools, and utilizing the menu options. There is never a charge to attend a training session.

Date and time: Thursday, November 16, 2017 1:00 pm - Eastern Daylight Time (New York, GMT-04:00) 
[Thursday, November 16, 2017 10:00 am - Mountain Time (Arizona, GMT-07:00); Thursday, November 16, 2017 12:00 pm - Central Daylight Time (Chicago, GMT-05:00)]

Duration: 1 hour 15 minutes

Please Note: Client ID is required to register

Register

Descartes Acquires MK Data Services LLC Jul 20, 2015

Acquisition Adds Comprehensive Denied Party Screening Trade Data and Solutions 

WATERLOO, Ontario, July 20, 2015 (GLOBE NEWSWIRE) -- Descartes Systems Group (TSX:DSG) (Nasdaq:DSGX), the global leader in uniting logistics-intensive businesses in commerce via the Global Logistics Network (GLN), announced that it has acquired MK Data Services LLC ("MK Data"), a leading US-based provider of denied party screening trade data and solutions.

Denied party screening is essential for minimizing business risk today. Governments of various countries, as well as international organizations, maintain a variety of lists of people, organizations and countries that it is restricted or prohibited to do business with. This includes customers, suppliers, employees and business partners for business processes such as contracting, shipping and payment.

Denied party screening is of critical importance in shipping and international trade. Often, the burden of compliance with these business restrictions is placed on those involved in the logistics of a shipment, such as the exporting business, the logistics intermediary / freight forwarder or the transportation carrier. Penalties for non-compliance have included civil fines, revocation of export privileges and criminal charges. In addition, since penalties are published publicly, non-compliance with these trade restrictions can bring with it tremendous reputational damage.

For over 20 years, MK Data has provided comprehensive technology solutions that help more than 900 businesses comply with these restrictions by screening for transactions with specified parties. As an existing business partner of Descartes with a connection to the GLN, MK Data's technology screens shipments against a comprehensive, frequently updated international database of restricted parties. MK Data's proprietary matching algorithms, which customers can sensitivity-adjust to suit their own risk concerns, flag potential compliance issues for prompt resolution. Like Descartes' Customs Info trade data content, MK Data's content also powers leading Global Trade Management (GTM) systems, and can be integrated with Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP) systems to enable customers to implement a comprehensive trade compliance program.

"The Global Logistics Network is the logical place for multi-national shippers, logistics intermediaries and transportation carriers to screen for compliance with international trade restrictions," said Edward J. Ryan, Descartes' CEO. "Over 11,000 customers use the GLN to manage and execute shipments every day across various modes of transportation, countries of origin and destination and commodities. Our combination with MK Data is truly a unifying acquisition for our business, as trade compliance is both an individual and shared interest of every single participant on the GLN."

"With highly-recurring revenues and close relationships with GTM system providers, MK Data has been a growing, high-margin business with increasing relevance to the trade community," said Allan Brett, Descartes' Chief Financial Officer. "MK Data's solution has flexibility that enables targeted screening of individual shipment transactions over the GLN as well as ongoing compliance screening of our customers' own roster of prospects, customers and suppliers."

MK Data is headquartered in Columbia, Maryland. The purchase price for the acquisition was approximately US $76.3 million in cash plus the assumption of approximately US $7.2 million of contingent and other cash payment liabilities. Descartes intends to provide further information relating to the acquisition in its public conference call relating to its second quarter fiscal 2016 (Q2FY16) financial results, currently anticipated to be in early September 2015. The acquisition is not expected to contribute materially to Descartes' revenues or Adjusted EBITDA for Q2FY16.


About Descartes 

Descartes (TSX:DSG) (Nasdaq:DSGX) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. Descartes has over 220,000 connected parties using its cloud-based services. Customers use our modular, software-as-a-service solutions to route, schedule, track and measure delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world's largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com.

The MK Data Services team was at the BIS West 10th annual Export Control Forum in Newport Beach, CA, February 23-24, 2015.

The BIS West Export Control Forum is a one-and-a-half day program dedicated to bringing the business community up-to-speed on the latest initiatives underway in the export control field, including the recent developments in the Export Control Reform initiative.

The Export Expo will featured influential guest speakers, opportunities to connect with experts and resources, networking, and fun! To learn more visit the event site.