Dow Jones Risk & Compliance has introduced RiskCenter Advanced Screening and Monitoring (ASAM), an AI-powered solution designed for financial crime and third-party risk management. ASAM leverages AI and machine learning, along with high-quality risk data, to enhance anti-money laundering, sanctions, and anti-corruption compliance processes. This solution aims to provide greater transparency in risk management workflows and allows organizations to efficiently screen customers and third parties at scale.
Key features of RiskCenter Advanced Screening and Monitoring (ASAM) include:
- AI and Machine Learning: ASAM employs machine learning technology from Ripjar to analyze data from various sources, including Dow Jones’s structured risk data and unstructured text from licensed news sources in the Factiva business intelligence platform.
- Scalability: The solution can simultaneously screen against hundreds of millions of names, reducing the time needed for adverse media checks and minimizing false positives.
- Compliance-Focused: ASAM aligns with regulatory guidance, offering organizations the tools and information required for effective risk management and compliance.
- Trusted Data Sources: It sources information from premium, licensed publications to ensure compliance with copyright regulations and data reliability.
Joel Lange, General Manager of Risk & Research at Dow Jones, highlighted the need for organizations to quickly and effectively identify and assess risks in a complex legislative landscape.
The launch of ASAM deepens Dow Jones’s partnership with Ripjar, following Dow Jones’s minority equity investment in January 2023. The companies have collaborated since 2018 to assist financial institutions and large corporations in mitigating financial crime risks.
Dow Jones plans to further expand its suite of compliance-ready, AI-powered risk management tools over the next year as it continues to invest in advanced AI, generative AI, and automation for the compliance sector.
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}