London, UK (PRWEB) January 21, 2008
On 15 January 2008, the US Treasury of Foreign Assets Control (OFAC) designated six individuals and one entity pursuant to the Foreign Narcotics Kingpin Designation Act. World-Check's researchers profiled five of the six designates months ahead of appearing on the OFAC sanctions list; namely Norberto Antonio Agudelo Velasquez (a.k.a. "AMADO"), Dora Lilia Pava Giraldo, Cesar Augusto Vargas Alba, Jorge Leandro Vargas Alba, and Jorge Eliecer Vargas Arias.
These individuals are all suspected to be acting on behalf of the Revolutionary Armed Forces of Colombia or FARC, a Colombian narco-terrorist group. World-Check originally profiled these individuals seven months ago for their alleged involvement in the laundering of narcotics proceeds on behalf of FARC. All of whom have reportedly actively participated in the operations of the Comercializadora Colombian Money Exchange LTDA, which has also been designated by OFAC for its involvement in laundering narcotics proceeds on behalf of FARC.
This designation action freezes any assets that these individuals may have under U.S. jurisdiction and prohibits U.S. persons from conducting financial or commercial transactions with these individuals and entities. "World-Check has once again kept clients ahead of financial, regulatory and reputation risk by identifying these high risk individuals months before they were officially sanctioned" said David Leppan, CEO and founder of World-Check. "By warning our clients of the risks that these suspected financial operators for FARC posed, months before they were officially sanctioned, World-Check has also contributed to the global cause that aims to weaken the financial network of organized crime and terrorist groups."
World-Check provides its global database of heightened-risk individuals and businesses to more than 2400 institutions, including 46 of the world's 50 largest financial institutions and hundreds of government agencies. The database is updated daily in real-time by World-Check's international research team, and is derived from hundreds of thousands of public sources. Coverage includes Politically Exposed Persons (PEPs), money launderers, fraudsters, terrorists and sanctioned entities - plus individuals and businesses from over a dozen other high-risk categories. World- Check's database and tools find direct application in financial compliance, anti-money laundering (AML), Know-Your-Customer (KYC), PEP screening, enhanced due diligence (EDD), fraud prevention, government intelligence and other identity
authentication, background screening and risk-prevention practices.
World-Check offers a downloadable database for the automated screening of an entire customer base, as well as a simple online service for quick customer screening.