London, UK (PRWEB) January 23, 2008
World-Check, the global industry pioneer and leading provider of highly-structured open source risk intelligence, is proud to announce that it recently celebrated its 2500th client sign-up (1). On an annual basis 19 million names are manually queried by our client base in 153 countries within World-Check Online, while many millions more are automatically screened against the World-Check Data-file (2).
Founded in late 2000, World-Check was originally created to address the Swiss financial industry's Know Your Customer (KYC) and risk-reduction requirements. Today, World-Check's database is relied upon by 47 of the world's 50 largest financial institutions and more than 200 regulatory and enforcement agencies across the globe, including 70% of the Egmont Group's Financial Intelligence Units. Clients also include businesses in the insurance, legal, gaming, aviation, real estate, consultancy, natural resources and accounting sectors, to name but a few.
World-Check's unique database includes profiles of known money launderers, fraudsters, Politically Exposed Persons (PEPs), terrorists, narcotics traffickers, shell banks, sanctioned entities and many other categories of high risk individuals and entities. Positioned at the forefront of international risk research and intelligence, World-Check regularly profiles heightened risk individuals and businesses years before their names appear on official sanction lists, making the database the ultimate "early warning system" against regulatory and reputation risk. This reliability is testament to the company's ongoing investment in technology and it's strategically placed international team of multilingual researchers.
"We are extremely excited about our exceptional growth in such a short period of time, and are committed to continued investment in innovative solutions, research specialists and value-added services based on our client needs" said David Leppan, CEO and founder of World-Check. "World-Check has played a critical role as the industry leader in the AML, KYC and CTF fields, and our continued client and partner growth confirms that we lead the market. In addition our 97% annual client renewal rate for the past seven years confirms that our database is unparalleled in depth, reliability and coverage."
(1) This number reflects actual institutions and not their branch or subsidiary networks.
(2) World-Check, as certified by KPMG, is unaware of the actual names (search terms) clients search for within World-Check.
World-Check provides its global open source intelligence database to more than 2500 institutions in 153 countries, including 47 of the world's 50 largest financial institutions, and 200+ enforcement and regulatory agencies in 90 countries. 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.