Bottomline Technologies, a FinTech specialising in secure business payments, this week announced a partnership with Dow Jones Risk & Compliance: adding key Dow Jones data to its Anti-Money Laundering and Counter Terrorist Financing monitoring and screening capabilities.
Dow Jones’s risk data, including politically exposed persons (PEPs), sanctions lists and adverse media entities for the UK, Europe and the Asia Pacific, will flow through Bottomline’s cyber fraud and risk management platform. The additional intelligence will help identify internal and external threats and protect against criminal activity.
The data inclusion should also be able to help banks and corporates avoid incurring regulatory fines and reputational damage that often accompany fraud incidents by enabling them to identify suspicious transactions and stop payments fast.
“Our partnership with Dow Jones benefits customers by protecting their payments across the entire lifecycle,” says James Richardson, Head of Market Development Risk & Compliance at Bottomline. “The Dow Jones data feeds for UK, Europe and the Asia Pacific, combined with Bottomline’s compliance solutions, will help to identify and mitigate payments to sanctioned entities, known money launderers and the risk of fraud and financial crime.”
“As criminals find more sophisticated methods to conceal illicit funds, access to quality, reliable and timely data has never been more important in the fight against financial crime,” adds Guy Harrison, General Manager of Dow Jones Risk & Compliance. “This partnership with Bottomline will enable businesses to better identify suspicious activity that may be linked to money laundering or terrorist financing – helping combat one of the most pressing issues of our time, as we seek to build a safer global financial ecosystem.”