Bottomline and Dow Jones team up to tackle financial crime
06 October 2020 London
Image: kras99/Adobe Stock
Bottomline Technologies has partnered with Dow Jones Risk & Compliance to increase the protection of payments across the entire lifecycle.
The new partnership adds keys data to Bottomline’s anti-money laundering and counter-terrorist financing monitoring and screening capabilities used to identify and eliminate 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 is set to help banks and corporates avoid incurring regulatory fines and reputational damage that can occur in light of a fraud incident by enabling them to identify suspicious transactions and the ability to stop payments.
James Richardson, head of market development risk and compliance at Bottomline, said: “Our partnership with Dow Jones benefits customers by protecting their payments across the entire lifecycle. 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.”
Guy Harrison, general manager of Dow Jones Risk and Compliance, commented: “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.”
Harrison added: “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.”
The new partnership adds keys data to Bottomline’s anti-money laundering and counter-terrorist financing monitoring and screening capabilities used to identify and eliminate 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 is set to help banks and corporates avoid incurring regulatory fines and reputational damage that can occur in light of a fraud incident by enabling them to identify suspicious transactions and the ability to stop payments.
James Richardson, head of market development risk and compliance at Bottomline, said: “Our partnership with Dow Jones benefits customers by protecting their payments across the entire lifecycle. 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.”
Guy Harrison, general manager of Dow Jones Risk and Compliance, commented: “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.”
Harrison added: “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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