Financial Crime World

Sanctions Screening Guidelines: A Critical Part of Anti-Financial Crime Framework

In today’s complex financial landscape, sanctions screening plays a vital role in preventing illegally engaging with sanctioned companies, entities, or individuals. As part of an anti-financial crime framework, sanctions screening is a crucial component that protects businesses from reputational and legal risks.

Importance of Sanctions Screening for Financial Institutions

Financial institutions are obligated to comply with sanctions screening requirements, and penalties for breaches can be severe. Dow Jones Risk & Compliance provides specialized data feeds for sanctions screening, which can be integrated into leading payments systems and platforms.

Key Features of Dow Jones’ Sanctions Data

  • Independently Audited: Produced by an in-house global research team to ensure clients meet regulatory requirements and maintain compliance.
  • Certified to ISAE3000 International Standards: Ensuring the highest possible quality of sanctions data.
  • Stringent Processes: Internal quality assurance and annual independent audits.

Sanctions Screening Benefits

By using Dow Jones’ sanctions screening solutions, firms can:

  • Identify listed securities linked to sanctioned entities
  • Screen financial instruments against over 50 sanctions lists and proprietary entity risk data
  • Monitor updates up to six times a day to ensure changes in regulatory requirements or levels of risk exposure don’t go undetected
  • Support one-time and ongoing screening, backlog reviews, and detailed reports based on leading data covering over 270 million entities

Standard Watchlist

The company’s standard watchlist includes:

  • Global sanctions lists
  • Vessels, cities, and ports
  • Sanctions control and ownership
  • Other specialist lists

Specialized Feeds for Payments and Transactions Screening

  • Sanctions and Critical Lists: Designed specifically for the pace and frequency of transaction screening.
  • Six Times a Day Updates: Ensuring changes in regulatory requirements or levels of risk exposure are detected.

Awards and Recognition

Dow Jones Risk & Compliance has been recognized as the winner of Best Sanctions Solution in Regulatory Intelligence, with one judge highlighting that the company is considered the number one provider of sanctions data for tier 1 banks in almost every Asia Pacific market.