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SWIFT announces new KYC Adverse Media service

First Published 29th June 2016

Partnership with Dow Jones provides KYC Registry users with access to news and regulator content.

Brussels - SWIFT has announced the launch of KYC Adverse Media, a news service integrated into its KYC Registry. In partnership with Dow Jones, SWIFT will now make Dow Jones Risk & Compliance data available to the institutions that are already using The KYC Registry as part of their know your customer compliance programmes.

Financial institutions are increasingly being expected by regulators to use 'negative news' coverage as part of a risk-based approach to customer due diligence for financial crime compliance. The KYC Adverse Media service provides Registry users with access to this type of curated content from more than 32,000 news publications worldwide, as well as regulatory notifications. The new service complements banks' self-reported, SWIFT-verified KYC data and documents with news content dating back to 2012. Articles are linked directly to the relevant legal entities in the KYC Registry, enabling users to view at a glance what news coverage, if any, is available for each Registry member.

Dow Jones' Adverse Media data includes information covering companies from every country in the world that have received negative news coverage for regulatory, competitive, financial, production, environmental, and social or labour related issues. Researchers enrich listings with additional detail, such as names in the native language script and corporate identifiers, as well as cross-references to people associated with such companies, to ensure that data is as accurate and complete as possible.

The searchable database also provides access to news content about banks that have not yet joined the Registry. In addition, although banks retain full control over which Registry members can view their official KYC data and documentation, KYC Adverse Media content is open to all KYC Registry users for optimal transparency.

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