Dow Jones has launched Sanction Alert, a new highly-structured data feed that helps financial institutions manage the impact of enhanced international payment formats by reducing false positives and duplicate alerts without increasing exposure to risk.
Reducing false alerts is of critical importance because of new NACHA regulations taking effect on 18 September 2009 and changes to the SWIFT message formats taking effect 21 November 2009. 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 automated clearing house 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 programmes,” said Rupert de Ruig, managing director of risk & compliance for Dow Jones. “Dow Jones Sanction Alert employs a customisable 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 from five research centres around the world.
Dow Jones Sanction Alert will be showcased at Sibos 2009 in Hong Kong.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more