Politically exposed persons, sanctions lists and adverse media intelligence bolster technology platform
Bottomline Technologies, a leading provider of financial technology that makes complex business payments simple, smart and secure, announced a partnership with Dow Jones Risk & Compliance, that adds key data to Bottomline’s Anti-Money Laundering and Counter Terrorist Financing monitoring and screening capabilities, used to identify and thwart illicit transactions.
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 can also 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,” said 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.”
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“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,” said 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.”
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