Dow Jones Risk & Compliance today launched its Anti-Corruption Portal, a Web-based dashboard providing companies with advanced risk identification and monitoring capabilities for anti-corruption compliance with regulations including the U.S. Foreign Corrupt Practices Act (FCPA) and the U.K. Bribery Act.
The new tool allows compliance professionals to automate screening of all business partners against Dow Jones Risk & Compliance's database and the Factiva archive of global business news and information.
"International companies often have relationships with thousands of partners over the world that can potentially expose them to risk. However, only 30% of companies currently monitor partner business integrity, according to our recent Dow Jones State of Anti-Corruption Survey," said Rupert de Ruig, managing director of Risk & Compliance, Dow Jones & Company. "Our Anti-Corruption Portal enables compliance departments to target resources at the areas of greatest risk and at the same time, monitor all their third party relationships including sales agents, distributors, suppliers and customers."
One of the key features of the portal is the option to order and manage due diligence reports, produced by a global team of specialists using trusted proprietary and open-source information in over 55 languages. The reports, also available as a standalone offering, are available to clients within five working days, allowing them to respond to time-sensitive due diligence requests and effectively assess risk within all third parties globally.
"Proactive due diligence is a vital component of any robust third-party anti-corruption program," said Charles Thomas, executive director of Due Diligence Services, Dow Jones & Company. "Our new Due Diligence reports provide an effective risk and compliance checkpoint for clients by delivering high-quality, secure and actionable data from global sources."
Other features of the new portal include:
• Third-Party Risk Identification - A tool allowing firms to check third-party relationships against the Dow Jones Anti-Corruption and Watchlist database of high-risk individuals and entities including global coverage of state-owned or controlled companies and public officials.
• Due Diligence Reports - Secure ordering of detailed and bespoke research created by a dedicated global, multilingual team of specialists using trusted proprietary and open-source information in over 55 languages. The reports can be ordered and managed via the portal or as a standalone offering.
• News Dashboard - Users can track and monitor news of specific companies or individuals from the 31,000 global news and information sources in Factiva and the wider Web in a single federated view.
• Audit - All workflow can be monitored to ensure all activity and decision-making can be reported.
• Quality & Security - The system is backed up by the Dow Jones data quality management and data security processes, accredited to international standards.