Dow Jones Introduces First Sanctions Data Feed Optimized for New International Payment Regulations
September 01 2009 - 4:00AM
PR Newswire (US)
Dow Jones Sanction Alert Helps Firms Comply With New NACHA, SWIFT
Operating Rules, Standards While Controlling Costs by Minimizing
Alerts; Showcasing at Sibos 2009, Hong Kong, Sept. 14-18 NEW YORK
and LONDON, Sept. 1 /PRNewswire/ -- Dow Jones Sanction Alert, a new
highly structured data feed, helps financial institutions worldwide
manage the impact of enhanced international payment formats by
dramatically reducing false positives and duplicate alerts without
increasing exposure to risk. Reducing false alerts is of critical
importance because of new National Automated Clearing House
Association (NACHA) regulations taking effect on Sept. 18 and
changes to the Society for Worldwide Interbank Financial
Telecommunication (SWIFT) message formats taking effect Nov. 21.
These changes will significantly increase the number of payments
classed as international and therefore subject to sanctions regimes
and result in a corresponding increase in the number of
high-priority alerts requiring immediate investigation. "As
businesses that handle International ACH Transactions or SWIFT
payments face impending regulations, they must considerably alter
their current payment screening process to avoid being buried in
alerts and to maintain the integrity of their sanctions screening
programs," Rupert de Ruig, managing director of Risk &
Compliance for Dow Jones & Company said. "Dow Jones Sanction
Alert employs a customizable dataset and proprietary technology to
help significantly reduce false positives and speed up
investigations, allowing businesses to comply with the new
international payment regulations without overextending their
workforce or budget." The Dow Jones Risk & Compliance Sanctions
Team monitors international sanction lists 24 hours a day on a
"follow-the-sun" basis from five research centers around the world.
Dow Jones Sanction Alert clients benefit from strict quality
controls and a comprehensive set of secondary identifiers which
maximize efficient clearing of alerts whilst providing the greatest
possible protection from risk. "New regulations, heightened
enforcement and internal budget pressure mean compliance and
operations departments must implement new solutions to improve
efficiency and effectiveness," de Ruig said. "Dow Jones Sanction
Alert answers this requirement with a product that can be
customized to meet firms' regulatory obligations and easily
integrated into current compliance systems." Dow Jones Sanction
Alert will be showcased at Sibos 2009, September 14-18 in Hong
Kong. Sibos attendees can visit Dow Jones in the exhibitor's hall
at booth 3A01 for a demo and information. For more information
about Dow Jones Risk & Compliance, visit
http://www.fis.dowjones.com/products/risk.html. To set up a meeting
at Sibos or arrange a personal demonstration of Sanction Alert,
email or call +1 800 369 0166 (in the U.S.), +44 203 217 5100 (in
Europe) or +61 2 8272 4600 (in Australia and Asia). About Dow Jones
Dow Jones & Company (http://www.dowjones.com/) is a subsidiary
of News Corporation (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV;
http://www.newscorp.com/). Dow Jones is a leading provider of
global business news and information services. Its Consumer Media
Group publishes The Wall Street Journal, Barron's, MarketWatch and
the Far Eastern Economic Review. Its Enterprise Media Group
includes Dow Jones Newswires, Factiva, Dow Jones Client Solutions,
Dow Jones Indexes and Dow Jones Financial Information Services. Its
Local Media Group operates community-based information franchises.
Dow Jones owns 50% of SmartMoney and 33% of Stoxx Ltd. and provides
news content radio stations in the U.S. DATASOURCE: Dow Jones &
Company CONTACT: Kim Gagliardi of Dow Jones & Company,
+1-603-864-8873, Web Site: http://www.dowjones.com/
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