Global Screening Services (GSS), a RegTech innovator focused on financial transactions screening, today announced its partnership with Dow Jones Risk & Compliance, a global provider of best-in-class risk data, integrated technology solutions and due diligence services for managing regulatory risk.
This partnership will enable financial institutions to access an industry-leading set of information on sanctioned entities to identify transactions of concern in real-time.
Providing granular coverage of global sanctions regimes, including comprehensive control and ownership information, Dow Jones’s payment and transaction screening dataset delivers trusted information to help organisations manage risk. Dow Jones’s multilingual research team expertly interprets data across jurisdictions and languages, delivering only the most relevant results to minimise false positives and reduce the compliance workload. This will enable GSS to screen financial transactions with precision and confidence. Joel Lange, General Manager of Dow Jones Risk & Compliance, comments: “We are thrilled to partner with GSS to deliver an industry-leading solution for sanctions transaction screening. In today’s highly dynamic sanctions climate, access to timely, complete and reliable data has never been more important. Together with GSS, we aim to ease the compliance burden for global banks—reducing friction in cross-border payments, while stopping the flow of illicit funds through the financial system.”
Over the past two years, GSS has been a pioneer in collaboration, partnering with several leading financial institutions and technology businesses focusing on financial screening. Just recently, GSS announced its partnership with Silent Eight and SWIFT to deliver expertise on security and data privacy and provide seamless sanctions screening.
Tom Scampion, CEO at GSS, comments:
“As we pass the first anniversary of Russia’s invasion of Ukraine, sanctions effectiveness continues to dominate news headlines. Screening sanctions is both an international security imperative and yet a material source of friction for our global financial system. Our collaborative solution creates a new transaction processing standard that improves efficiency and reduces friction. We’re delighted to welcome Dow Jones into our ecosystem as GSS’s sanctions data partner to support this solution. Dow Jones has a reputation for accuracy, depth, and innovation, which aligns with the values that GSS represents.”
About Dow Jones
Dow Jones is a global provider of news and business information, delivering content to consumers and organisations around the world across multiple formats, including print, digital, mobile and live events. Dow Jones has produced unrivaled quality content for more than 130 years and today has one of the world’s largest news-gathering operations globally. It is home to leading publications and products including the flagship Wall Street Journal, America’s largest newspaper by paid circulation; Barron’s, MarketWatch, Mansion Global, Financial News, Investor’s Business Daily, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, OPIS and Chemical Market Analytics. Dow Jones is a division of News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV).
For more information visit Dow Jones (www.dowjones.com)