Kharon Data and Technology Selected by U.S. Customs & Border Protection

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Oct 18, 2023, 15:11 ET

CBP's officers will gain access to Kharon's platform to support CBP Forced Labor and Trade enforcement and investigations

WASHINGTON, Oct. 18, 2023 /PRNewswire/ -- Kharon announces the signing of a contract with the U.S. Customs & Border Protection (CBP). Through this award, CBP enforcement officers and investigators will gain access to Kharon's global risk analytics platform. Kharon's insights and analytic tools are used by global companies and financial institutions for risk management of regulatory and geopolitical security threats, in particular for KYC, sanctions compliance, supply chain security, and forced labor.

This award underscores Kharon's commitment to helping organizations navigate the complexities of supply chain due diligence while aligning with the Uyghur Forced Labor Prevention Act (UFLPA) and forced labor enforcement.

Kharon's expertise in generating data-driven insights will assist CBP with its investigations that focus on the networks of foreign actors tied to forced labor and other security threats. Kharon insights draw upon all available open source information and are powered by world class subject matter expertise and data analytics combined with cutting edge AI and NLP systems. Kharon has been awarded multiple patents for its transformative analytic and workflow tools that have helped leading corporates and banks minimize risk and maximize efficiency for critical compliance, investigative and risk management functions.

Kharon's Forced Labor solution serves as a powerful tool for organizations seeking to address the multifaceted challenges posed by supply chain risks in today's globalized economy, particularly in line with the UFLPA and forced labor enforcement. Kharon's insights and patented technology tools allow companies to proactively identify potential forced labor indicators and typologies, aligning with government regulations and guidance. By doing so, businesses can mitigate their exposure to forced labor and human rights risks that might otherwise remain concealed, thus avoiding enforcement actions and protecting enterprise value.

"We are honored by this award, and that our data, technology, and workflow products continue to assist leading organizations as they improve the security and integrity of their respective global supply chains," said Howard Mendelsohn, Kharon's Chief Client Officer. "Kharon has worked hard to ensure that our critical insights on forced labor are integrated with the leading third-party screening and supply chain mapping platforms, empowering companies to quickly and cost effectively identify risk in connection with UFLPA requirements and forced labor enforcement. Addressing the complexity of forced labor exposure requires effective partnership between the public and private sector, which Kharon is proud to be a part of."

Learn more about Kharon's forced labor solutions at www.kharon.com.

About Kharon

Kharon helps leading organizations identify a wide range of sanctions and compliance risks, critical to managing financial crimes, supply chain exposure, export controls, investment risk, and more. Combining cutting edge technology and data science with industry-leading research, our solutions provide the critical insights required for a comprehensive view of illicit finance and other commercial threats.

The Kharon leadership team includes former senior officials from the U.S. Government who have leveraged their unique expertise to build risk management solutions that are trusted by the world's top financial institutions, global corporates, and professional services firms.

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SOURCE Kharon