World-Check

World-Check is an Open Source (OSINT) risk intelligence repository containing detailed profiles of terrorists and those who finance terrorism, money launderers, fraudsters and many other high-risk individuals and entities. It also covers Politically Exposed Persons (PEPs) and Politically Exposed Foreign Persons (PEFPs) worldwide.

World-Check provides its risk intelligence to banks, building societies, lending, leasing and hire purchase companies, credit unions, asset management companies, foreign exchange dealers, stored value card issuers, remittance dealers, life insurers, financial planners, custodial service companies, cash couriers and securities and precious gem dealers, as well as gambling, gaming and sports betting operators. Currently more than 2,800 institutions, including 47 of the world’s 50 largest financial institutions, utilise World-Check’s risk intelligence to effectively screen their clients, transactions and employees for potential risk. In addition World-Check is used by many government (immigration, security, intelligence, police) and international agencies including the United Nations.

Significantly, usage of World-Check’s risk intelligence is recommended as best practice for due diligence by the Jersey FSC and the Financial Services Authority (FSA).

Risk categories and lists monitored

Terrorists and organised crime; money launderers and fraudsters amongst many other categories - are all profiled and linked to offer a complex network of public information. In addition, World-Check correlates every known sanction and embargo list from around the world, including both debarred and banned parties, such as OFAC, Bank of England, EU, OSFI, FATF and the Australian DFAT list, to name but a few. World-Check also includes comprehensive profiles of high-risk and "potential" heightened-risk individuals and entities, and those associated with them, from more than 230 countries and territories worldwide.

World-Check's proprietary risk intelligence and tools are used to support financial compliance and risk screening procedures. Some of its primary uses relate to Anti Money Laundering (AML) compliance, Counter Financing of Terrorism (CFT), Know Your Customer (KYC) regulations, PEP screening, Enhanced Due Diligence (EDD), fraud prevention, government intelligence and other identity authentication, background screening and risk-prevention practices.

It fulfils a critical risk mitigation function during processes such as new account opening, regular accounts audits and the automated batch-screening of thousands of daily account payments, transactions and third-party entities.

About World-Check

World-Check was originally founded in 2000 by David Leppan to address the risk mitigation requirements of the Swiss banking community. It recently received a large strategic capital investment from Spectrum Equity.

World-Check recently launched Country-Check, a global jurisdictional risk index unique in its kind. Powered by a highly sophisticated statistical model, Country-Check aggregates more than 80 reputable information sources which are categorised into 3 risk factors: political, economic and criminal in order to provide a holistic perspective on country risk. For more information, visit www.country-check.com.

External links

*http://www.world-check.com/overview/
*http://www.un.org/News/briefings/docs/2006/060425_OCHA_PC.doc.htm
*http://www.nytimes.com/2004/12/12/politics/12finance.html?ex=1260507600&en=80ff62f666830834&ei=5090&partner=rssuserland
*http://www.innercitypress.com/icg042506.html
*http://www.abs.org.sg/fc2007/exhibition.htm