Anti-corruption database launched
News Limited-backed Dow Jones has moved to leverage off its database by offering financial services companies a new risk management tool which allows users to access information to identify entities requiring more oversight.
According to Dow Jones, its Anti-Corruption database allows senior managers to address risk by verifying information from their workforce and third parties, screening employees and business partners and auditing the accuracy of existing records.
The managing director of Dow Jones Risk and Compliance, Rupert de Ruig, said knowing the background of your business partners, clients and contractors was becoming especially important as authorities began to investigate whether the anti-corruption tone at the top of an organisation was actually being implemented in practice.
He pointed out the release of the database was also coinciding with the global recession, which was causing many organisations to seek business opportunities in new markets with new customers and unfamiliar intermediaries.
AUTHOR
Mike Taylor
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