World-Check Leads Industry in Identifying High Risk Entities

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Company consistently beats government sanction listings in identifying high risk individuals.

World-Check, the pioneer and leading provider of structured intelligence on known heightened-risk individuals and businesses, today announced how once more their research teams have identified and profiled an individual as ‘high risk’ almost two years prior to him being added to the UN and Bank of England Sanction lists.

On this occasion the individual is Saajid Mohammed, British terror suspect, charged with conspiracy and attempted murder in a US indictment that links him to “shoebomber” Richard Reid. World-Check had identified this suspect back in January 2003 but his name was only added to official lists this month.

World-Check’s database compiled entirely from open source information, often identifies individuals as high risk before they appear on the lists of sanctioning organizations such as UN and OFAC. Another recent example is the case of Haroon Rashid Aswad, alleged mastermind of the July 7 London bombings. Though only coming to the widespread attention after the tragic event, Aswad had been in the World-Check database since 15 September 2002.

“In order to mitigate risk, governments and financial institutions must focus as much on the quality of intelligence as the quantity,” said David Leppan, founder and CEO of World-Check. “We have invested heavily in both personnel and technology to ensure that our KYC intelligence mitigates real risk for our clients. We are proud to be ahead of the curve when it comes to identifying such risk.”

An internal World-Check analysis recently calculated 180 instances where individuals profiled in World-Check’s database were later included in the OFAC list.

About World-Check:

Recognised as an industry pioneer, World-Check provides risk reduction intelligence to almost 1,600 financial institutions and government agencies including 42 of the world’s top 50 banks. World-Check assists institutions in mitigating reputational, financial and compliance risk by monitoring and correlating information on high and heightened risk entities.

World-Check consolidates and organises unstructured information from hundreds of thousands of sources into a database of highly-structured profiles of people and entities known to be of high- or heightened-risk, such as terrorists, fraudsters, money launderers, Politically Exposed Persons (PEPs), arms dealers, and sanctioned entities amongst many other categories. World-Check not only tracks and creates profiles on such entities; it also gathers information on their networks and associates, where the true risk often lies.

World-Check has revolutionised and standardised global “Know your Customer” (KYC) and “Politically Exposed Person” (PEP) screening.

For more information please visit: http://www.world-check.com

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David Leppan

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