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Dow Jones Risk & Compliance has proven to be an invaluable tool for users in solving various business problems related to AML compliance …
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What is Dow Jones Risk & Compliance?
The Dow Jones Risk & Compliance division combines the expertise of a multilingual team of 450 researchers and analysts with automation and artificial intelligence tools. The solution aims to deliver reliable, actionable information and applications that are developed specifically for…
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What is Dow Jones Risk & Compliance?
The Dow Jones Risk & Compliance division combines the expertise of a multilingual team of 450 researchers and analysts with automation and artificial intelligence tools. The solution aims to deliver reliable, actionable information and applications that are developed specifically for compliance…
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- Tech Details
What is Dow Jones Risk & Compliance?
The Dow Jones Risk & Compliance division combines the expertise of a multilingual team of 450 researchers and analysts with automation and artificial intelligence tools. The solution aims to deliver reliable, actionable information and applications that are developed specifically for compliance requirements and workflows related to anti-money laundering and counter-terrorism financing, sanctions, anti-bribery and corruption and international trade compliance.
Solutions include:
Solutions include:
- Financial Crime Compliance - Conduct comprehensive due diligence on customers and connected parties as part of a Know Your Customer (KYC) program.
- Third-Party Risk Management - Verify the integrity of the supply chain and business partners by assessing risks, such as bribery, corruption and dealings with sanctioned parties.
- Sanctions Compliance - Keep pace with sanctions developments and requirements, even as international and national regimes shift rapidly.
- Trade Compliance - Criminals increasingly are using international trade to move illicit funds and goods across jurisdictions and to exchange goods with sanctioned parties. Dow Jones' solution helps identify red flags.
Dow Jones Risk & Compliance Technical Details
| Operating Systems | Unspecified |
|---|---|
| Mobile Application | No |
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TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
- Business Problems Solved
Dow Jones Risk & Compliance has proven to be an invaluable tool for users in solving various business problems related to AML compliance and risk management. Customers have praised the software for its ability to identify beneficial owners of entities, helping them adhere to AML rules and regulations. By effectively flagging AML risks such as OFAC sanctions, PEP matches, financial crimes, adverse media, and other regulatory violations, the software ensures that financial institutions can prevent money laundering and maintain compliance.
One of the key use cases of Dow Jones Risk & Compliance is client and customer screening during the onboarding process. Users have found value in using the software to screen potential clients, ensuring compliance with AML CTF laws and guidelines. With regulations constantly changing, users appreciate how the software helps speed up the onboarding process while also preventing money laundering by identifying any red flags. Moreover, the thorough investigation of results provided by Dow Jones Risk & Compliance enables users to analyze false positives, reducing the time spent on manual reviews.
In addition to its role in AML compliance, the software has been instrumental in detecting and preventing fraudulent activities. Users have found that it aids in identifying potential matches for cases of fraud, providing valuable support in fraud prevention efforts. By leveraging its capabilities in third-party risk assessment and case management, Dow Jones Risk & Compliance allows businesses to proactively catch legal compliance risks they may face.
Overall, customers have lauded the effectiveness of Dow Jones Risk & Compliance in solving critical business problems related to AML compliance, risk management, client screening, and fraud detection. The software's ability to streamline processes while ensuring regulatory compliance has made it an essential tool for financial institutions seeking to mitigate risks and maintain a strong compliance posture.
Reviews
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January 27, 2023
One stop solution for compliance screening
I have been using Dow Jones Risk & Compliance in my organization for the past year and have found it to be a valuable tool for managing risk and compliance issues. The product addresses a wide range of business problems, including the need for accurate and up-to-date information on potential risks, the ability to monitor compliance with regulations and laws, and the need to identify and mitigate potential risks. In our organization, we use the product primarily for compliance with anti-money laundering (AML) regulations. The scope of our use case includes the ability to screen individuals and entities against various watchlists, as well as the ability to conduct investigations and monitor transactions for suspicious activity. The product also provides us with a wealth of information and intelligence on various types of risks and potential threats, which we use to inform our overall risk management strategy
- Watchlist screening
- The product provides real-time monitoring of various types of risks, including regulatory, reputational, and financial risks. This helps organizations stay informed of potential threats and take proactive measures to mitigate them.
- It offers automated workflows for compliance tasks such as customer onboarding, transaction monitoring and investigations. This helps organizations to streamline their compliance processes and reduce the risk of human error.
- I find the user interface to be simple to use, but sometimes it can be difficult to navigate and that some features are not as clear-cut as they could be.
- I have trouble with the product's settings and configurations because they are sometimes too rigid to suit our unique requirements. A larger range of use cases may be better served by the product if the customization possibilities are improved.
- Improving the reporting and visualization capabilities could make it easier for organizations to understand and communicate information about risks and compliance to stakeholders.
- Watchlist screening
- Intelligence and Research
- Reporting and visualization
- By using the product's watchlist screening, monitoring, intelligence, and automated workflow capabilities, organizations can identify and address potential risks before they become problematic
- It helps to reduce the likelihood of costly regulatory fines and reputational damage, as well as improve overall risk management