Dow Jones refused to provide Russian banks with data on sanctions

The Dow Jones data aggregator, which is one of the main sources of information about restrictive measures around the world, has stopped supplying data on sanctions to Russian banks.

In particular, the Risk & Compliance service from Dow Jones broke an agreement with one of the major Russian banks. Previously, the service collected data on sanctions against individuals and companies, updated them and sold them to banks as a whole package. It is noted that all major market players work with this service. 

The problem for Russian banks is that if they cannot promptly check customers through databases, they risk falling under sanctions themselves, including secondary ones.

However, representatives of two large Russian banks said that Russia has an analogue of such services – the X-Compliance system from Interfax. Ideally, Russian organizations should have two databases installed – World-Check and X-Compliance, so that information can be rechecked. However, there are concerns that in the current conditions, Russian banks will be able to work normally only with the Russian service.