Risk & Compliance
IDENTIFY AND EVALUATE THIRD PARTY RISK
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Dow Jones Risk & Compliance
Dow Jones Risk & Compliance is a global provider of third party risk management and regulatory compliance solutions. Working with clients across the globe, we have created products and services to help companies evaluate third party risks faster and with more confidence.
We deliver research tools and outsourced services for on-boarding, vetting and investigation to help companies comply with anti-money laundering, anti-bribery, corruption and economic sanctions regulation in mitigating third party risk. With a global team of expert researchers, flexible delivery options and enriched third party risk data, our suite of compliance solutions empower compliance professionals to quickly and efficiently reduce risks while conserving limited resources.
Latest Insights From Dow Jones Risk & Compliance
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Venezuela: A Case Study In Jurisdictional Risk
Read MoreVenezuela is not ranked highly on the World Bank’s Doing Business index. Not highly at all. It’s above Libya, Eritrea and Somalia—and that’s about it. The latest round of US sanctions on the country has made it even more complex. Nonetheless, it is still a market that needs imports, needs investment and has significant natural resources. Foreign Direct Investment in the economy was around $1.8bn last year. -
How Strong Compliance Can Produce Positive Reputation
Read MoreCompliance programs are typically judged in very concrete terms — at the most basic level, their effectiveness in keeping companies out of regulatory and legal trouble. However, according to a recent Aite Group survey, 68 percent of compliance professionals at financial companies worldwide said that protecting their company’s reputation was their top job. -
The End Of Check The Box Anti-Corruption Compliance
Read MoreOver the past year, the release of ISO 37001 and the U.S. DOJ’s Evaluation of Corporate Compliance Programs have highlighted to companies the need to develop and maintain a substantive program for identifying, evaluating and addressing bribery risk. -
Five Ways to Calculate ROI on Compliance
Read MoreEvery ethics and compliance professional confronts the (mis)perception that compliance is bad for business, a fuzzy function that sucks up precious resources without providing any clear financial value. Compliance executives can convert detractors into supporters by demonstrating a positive “return on investment” (ROI). -
The Aggregate 50% Rule – Is the glass half full or half empty?
READ MOREIn the wake of several high profile events involving sanctions and ownership violations of Russia and Barclays bank, the “OFAC 50% Rule” and its EU equivalent have received renewed attention. -
The Challenge of Cybersecurity Due Diligence
READ MOREIgnoring your company’s cybersecurity can lead to internal or external attacks, compromising the confidentiality, availability and integrity of data. This can leave your company open to legal and regulatory penalties that damage reputation. -
Third Party Risk Management: Uncover Emerging Trends
READ MOREIn recent years, trends in government anti-corruption reviews of third parties have been trending towards stricter scrutiny of supplier and customer relationships, thus requiring stronger third-party due diligence in managing sanctions, supply chain and reputational risk. -
Global Anti-Bribery – Enforcement Risks & Other Considerations
READ MOREAll 41 countries signed to the OECD Anti-Bribery Convention have criminalized foreign bribery. However, inadequate enforcement and discrepancies in statistical reporting continue to be a barrier to effective implementation and understanding of the law’s effects.
Top Picks - Featured Compliance News
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Survey Roundup: Cost, Frequency Of Cyberattacks Rises For Banks
Read MoreA look at some recent surveys and reports dealing with risk and compliance issues. Send links of surveys and reports to ben.dipietro@wsj.com . -
Billion-Dollar Bribery Scandal Sweeps Through Oil Industry - Criminal Case Alleges Corruption In Shell And Eni Deal For Nigerian Field
Read MoreA top oil executive walked into the marble lobby of an exclusive Milan hotel on a chilly winter night. His dinner date was a former Nigerian oil minister offering to sell one of Africa's biggest untapped oil discoveries.
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Anti-Money Laundering Body Again Delays Iran Penalties
Read MoreThe Financial Action Task Force, an international anti-money-laundering standards body, said Friday it would again extend the suspension of some penalties against Iran, but threatened action in June.
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It's Too Hard To Search The Cloud; Congress Takes Up International Conflicts Of Law In Cyberspace.
Read MoreConflicts of law in cyberspace have grown worse in recent years. Multinational technology companies now regularly fight costly legal battles with the U.S. government. Both sides want to know: Can a U.S. warrant compel the disclosure of data stored abroad and subject to foreign law? Whose law takes precedence? What can be done to prevent such conflicts?
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The Morning Risk Report: Asset Managers Show Less Concern About Compliance
Read MoreA lax attitude toward enforcement under the Trump administration has asset managers more focused on reputational risks than on compliance concerns, according to a survey of executives at hedge funds and private equity funds. The survey of 200 executives by financial services technology firm Koger Inc. found 56% said regulatory enforcement has decreased since Donald Trump became U.S. president; 85% said the U.S. regulatory climate is more relaxed than the international one.
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The Case For Integrating Physical And Cyber Security
Read MoreMany companies are merging traditional physical security functions with cybersecurity. And some are learning it's not always an easy fit.
Insights from Risk & Compliance
Whitepapers
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Money Laundering: New Rules, New Crimes, New Controls
Read more
On December 6, editors from The Wall Street Journal’s Risk & Compliance Journal, in partnership with Dow Jones Risk & Compliance, welcomed three executives to share valuable expertise and the measures their organizations are taking to prevent money laundering, including the use of technology and efforts to reform culture.
David Schwartz, President and Chief Executive of Florida International Bankers Association (FIBA), discussed the laborious task of identifying false positives and the immense opportunity for artificial intelligence (AI) in financial services.
“Financial institutions are looking at it,” he said. “The idea is to get AI or ML to analyze better those transactions and weed out false positives. […] What catches our attention is not so much false positives, but that the system can produce a false negative. That’s really the overall concern. Yes, false positives take a lot of time to go through, but what are you actually missing?”
Aaron Karczmer, Chief Risk, Compliance, and Security Officer of PayPal, emphasized the importance of setting your organization’s mission while generating excitement for proactive compliance cultures.
“Ensure that the mission and values of your company are set right,” he said. “For us, our mission and values are completely consistent with the regulators’ values and law enforcements’ goals. […] If you can wrap yourself around the law enforcement mission and be a part of combating money laundering, terrorism financing and financial crimes, it is actually very exciting.”
Keynote interviewee, Jeff Horowitz, Chief Compliance Officer of Coinbase, spoke about his role in ensuring Coinbase prioritizes compliance and the internal practices he emphasizes as a result.
“I am tasked every day to make three tough risk decisions. […] I am very engaged with the business and we are viewed as a partner with the business—an advisory function. They are saying, ‘Jeff, is this a smart reputational risk decision to make?’ I am bringing on people from traditional financial services that compliment the folks that are crypto-first or engineers-first. I think the combination of both will help us mitigate the risk as this ecosystem matures and our company matures.”
The executives each made clear the tremendous value of building proper compliance ethos within an organization, while also creating relationships with law enforcement and local regulators, externally.
Similarly important; the validity of the data from which your organization’s compliance process runs. That’s where the WSJ and Dow Jones Risk & Compliance play an important role—the foundation of all Dow Jones businesses is built on world-class, ethical journalism which contributes to our growing data capabilities.
Read the WSJ’s coverage here.
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Dow Jones Hosts Risk and Compliance Leaders for Breakfast Briefing
Read moreOn Friday, May 11th, Dow Jones Risk and Compliance hosted an informative breakfast briefing at our European headquarters in London, bringing customers and other industry practitioners together for discussions on recent developments in the sanctions landscape and providing updates on new product releases and enhancements from the Risk & Compliance business.
Christophe Amez, EMEA Director for Dow Jones Risk and Compliance, kicked off the morning with welcome remarks to a packed room. He handed the stage to Mara Lemos Stein, a risk and governance reporter from WSJ’s Risk and Governance Journal, who hosted the keynote session on changing risks in the world of sanctions. The interview featured Michael O’Kane, Senior Partner at Peters & Peters, and Dr. Justine Walker, Head of Sanctions for UK Finance, with much of the discussion focusing on the U.S. withdrawal from the Iran deal. For a more developed analysis, please refer to a this recent Wall Street Journal post.
The panel was followed by Gavin Proudley, Global Director, Due Diligence, and Jim Armstrong, Head of Cerico, both from Dow Jones Risk & Compliance, who commented on the recent release of a new third party risk management tool from the Risk & Compliance business. Dow Jones’ recent acquisition of Cerico paved the way for this exciting new offering, resulting in a legally-led workflow application built around premier risk data.
John Edeson, Product Manager for Dow Jones Risk & Compliance, concluded the morning with demos of Dow Jones’ trade compliance solution for screening dual-use goods, ExImCheck, and of a new tool for screening employee expense reports against anti-bribery and corruption risk, RiskConnector for Concur.
Dow Jones Risk & Compliance is a global provider of third party risk management and regulatory compliance solutions. Working with clients across the globe, we have created products and services to help companies evaluate third party risks faster and with more confidence.
For more information about new and developing solutions from Dow Jones or to request invites to future events, email risk@dowjones.com or contact us via the form below.
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Dow Jones Risk & Compliance – What’s Next in Anti Money Laundering
A panel of anti-money laundering experts share their latest thinking on recent Anti-Money Laundering trends – from what companies need to do to avoid the attention of regulators to where that attention could fall next.
ON FINCEN:
What is FinCEN’s current focus?
What other government departments do you work with?
How does FinCEN handle terrorist financing?
What led you to change restrictions for Miami and New York?
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Dow Jones Risk & Compliance – What’s Next in Anti Money Laundering
A panel of anti-money laundering experts share their latest thinking on recent Anti-Money Laundering trends – from what companies need to do to avoid the attention of regulators to where that attention could fall next.
DE-RISKING:
Has the idea of de-risking run its course?
Has de-risking gone too far?
Were you surprised by the amount of entrenchment in your industry?
Do you share your information?
Do you have an analytics systems in place?
How far down the block chain do we need to go to ensure security?
When will there be full transparency with wire transfers?
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Dow Jones Risk & Compliance – The New Anti Corruption Landscape
Assistant Attorney General and Chief Compliance officers from corporates discuss what the major changes on anti-bribery enforcement from the U.S. Department of Justice spell for companies.
VIEWS FROM THE C SUITE:
Would a template for FCPA be helpful?
Do you share information with each other about larger cases?
Do you encourage people to come forward about non-compliant business practices?
How do you encourage people to speak about non-compliance?
Should compliance officers be held responsible?
What are your thoughts about the increased levels of international cooperation?
How do you successfully offer guidance to your employees?
What are the signs of a company that has strong compliance?
Over the last two years, what has changed the most about your business?
Are you able to combat corruption internationally?
What are you doing differently to demonstrate the effectiveness of your programs?
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Dow Jones Risk & Compliance – The New Anti Corruption Landscape
Assistant Attorney General and Chief Compliance officers from corporates discuss what the major changes on anti-bribery enforcement from the U.S. Department of Justice spell for companies.
COMPLIANCE EXPERT:
What prompted the creation of the compliance expert position?
Will compliance staffers be able to interact with your compliance expert professional?
How will Deferred Prosecution Agreement cases be handled?
Can Deferred Prosecution Agreement cases be resolved outside of court?
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Dow Jones Risk & Compliance – The New Anti Corruption Landscape
Assistant Attorney General and Chief Compliance officers from corporates discuss what the major changes on anti-bribery enforcement from the U.S. Department of Justice spell for companies.
COMPLIANCE BEST PRACTICE:
How do people stay up to date with compliance?
In 2016, what should a compliance officer be focusing on?
What are the benefits of transparency?
How do you assess the success of a compliance program?
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Dow Jones Risk & Compliance – What’s Next in Anti Money Laundering
A panel of anti-money laundering experts share their latest thinking on recent Anti-Money Laundering trends – from what companies need to do to avoid the attention of regulators to where that attention could fall next.
A CULTURE OF COMPLIANCE:
Are you searching other industries for non-compliance?
How do you examine other industries?
Where do you find companies that live up to your standards?
What constitutes a good culture of compliance?
What are the most interesting areas of compliance?
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Privacy Information — Risk & Compliance is a subscription only service that provides information curated exclusively from publicly available sources. Dow Jones Risk & Compliance collects and processes this information, which includes personal information available in the source material such as newspaper articles, government issued watch lists, and other publicly available information, to assist its third party clients in meeting their regulatory and compliance obligations. The information is only made available to subscribers who require it for their compliance or regulatory purposes so they can, for example, meet their “know your customer,” anti-money laundering, anti-terrorism, or anti-corruption obligations.