Dow Jones Risk & Compliance to use Pole Star tracking solution

The partnership enables users of Dow Jones’ trade compliance solution to access additional intelligence for vessel screening and monitoring via Pole Star’s PurpleTRAC software.

PurpleTRAC provides a vessel’s complete voyage history and screening checks for advanced auditing, combining Transponder signals with Inmarsat Satellite tracking.

“Assessing the risk associated with a trade transaction -- from the goods themselves to the vessel and counterparties involved -- is increasingly important given regulatory pressures around international trade,” said Guy Harrison, general manager of Dow Jones Risk & Compliance.

“By combining Dow Jones’ highly structured sanctions and dual-use goods content with Pole Star’s vessel screening and monitoring technology, we are confident that this collaboration will set a new standard in guarding against financial crime in maritime trade.”

Julian Longson, managing director of Pole Star, said, “As we strive to make maritime trade safe and compliant, forming this mutually beneficial partnership with Dow Jones - the world leaders in third-party risk management and regulatory compliance solutions - is an exciting next step for us."

Dow Jones’ trade compliance solution enables companies to assess risk with regard to dual-use goods, trade counterparties, vessels and sanctioned cities and ports.

It provides coverage of all major export control regimes, including the Wassenaar Arrangement, the Chemical Weapons Convention and US Commerce Control List.