Prevention of money laundering and terrorist financing through automated checking of individuals and organizations on Dow Jones watchlists.
In the KYC process, banks and insurance companies normally rely on sanctions lists and PEP lists from external data providers. They often combine several sanctions lists to ensure a high level of security in the KYC process.
The Actico Compliance Suite has standard interfaces with providers like Worldcheck (Refinitiv), Info4C PEP Desk and Sanction, WorldCompliance (Lexis Nexis), EU and OFAC. It offers financial institutions and regulated companies a structured solution to comply with money laundering, Know Your Customer and terrorist financing regulations.
The following Dow Jones sanctions lists now have an interface with the Actico Compliance Suite:
- Dow Jones Watchlist contains information on politically exposed persons (PEPs) and persons and companies of special interest (SIPs), i.e. from sanctions lists and other official lists.
- Dow Jones Adverse Media involves the interrogation of third-party data sources for negative news associated with an individual or company.
- State-Owned Companies includes companies that regulators might classify as state-owned and individuals who may be classified as politically exposed persons due to their roles as executives at state-owned companies.
The data can be imported via the XML interface into the Actico software module Name Matching Customer. This allows banks, financial institutions and insurance companies to match the data of new and existing customers and transactions against these lists and clarify any anomalies.
The Dow Jones lists are mainly used by banks, financials services providers and insurance companies that have the following requirements:
- Provision of sanctions lists beyond EU and OFAC.
- Detailed, structured information on PEPs and state-owned companies.
- Key information on negative reporting.
- International coverage of sources.
Learn more about the Compliance Suite and how it can help you ensure KYC, AML and CTF
Learn more about Machine Learning in Compliance.