Technology provider, Global Screening Services is partnering with Dow Jones Risk and Compliance to develop a tool that will support companies with real time data on sanctioned entities.
Joel Lange, general manager of Dow Jones Risk and Compliance, said: “We are thrilled to partner with GSS to deliver an industry-leading solution for sanctions transaction screening. In today’s highly dynamic sanctions climate, access to timely, complete and reliable data has never been more important. Together with GSS, we aim to ease the compliance burden for global banks, reducing friction in cross-border payments, while stopping the flow of illicit funds through the financial system."
Tom Scampion, CEO at GSS, added: "As we pass the first anniversary of Russia’s invasion of Ukraine, sanctions effectiveness continues to dominate news headlines. Screening sanctions is both an international security imperative and yet a material source of friction for our global financial system. Our collaborative solution creates a new transaction processing standard that improves efficiency and reduces friction. We're delighted to welcome Dow Jones into our ecosystem as GSS's sanctions data partner to support this solution. Dow Jones has a reputation for accuracy, depth and innovation, which aligns with the values that GSS represents."
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