London, UK (PRWEB) February 4, 2008
World-Check, the leading provider of highly-structured financial risk intelligence is pleased to announce the appointment of Steve Farrer to its Asian operations. Mr. Farrer joins World-Check with more than 18 years experience in fraud risk management and anti-money laundering (AML) gained throughout Asia and the Pacific regions. Most recently he led the Asian business development and consulting teams supporting ACI Worldwide's AML and Fraud technological solution suite. Prior to this he was Vice President, Mastercard International (Asia/Pacific) for five years, and managed the company's fraud risk compliance and technology teams in Asia/Pacific. Earlier in his career, he was an Inspector with the Royal Hong Kong Police for 9 years, in operational roles, as well as investigating Asian organized crime, commercial fraud cases, and counterfeit activities.
"Independent research indicates that spending by Asian financial institutions on AML systems and processes is projected to rise by an average 39% Year-on-Year from 2008. In response to this growing need for cutting edge risk intelligence World-Check has over the past two years invested vast amounts of resources in a process of enhancing its coverage of the Asian region" said David Leppan, CEO and founder of World-Check. "This investment includes bringing on board AML and anti-fraud specialists to ensure that we fully understand our clients' needs and the challenges they face. We are delighted that Steve has joined our Asian operations as his in-depth knowledge and experience will be a tremendous addition to our business development goals for the region."
Mr. Farrer is a Certified Anti-Money Laundering Specialist (CAMS), Certified Fraud Examiner (CFE), member of the Anti-Phishing Working Group (APWG), and Graduate of the International Institute of Security (IISec). He has recently completed his MBA with Henley Management College, UK. He is a regular conference speaker and has published a number of articles on trends in AML and Identity Theft. He has joined World-Check as a Senior Consultant for business development and will liaise with regulators and government agencies in the region.
"World-Check's far-reaching reputation for excellence and its ability to provide clients with accurate, current and pertinent data has resulted in a phenomenal increase in clients based within the Asian region" said Steve Farrer, World-Check's new Senior Business Development Consultant in Asia. "I have been very impressed by the way in which companies that have incorporated World-Check into the core of their Know Your Customer (KYC) processes and AML systems have made major advances in effectively mitigating their AML and Countering terrorist financing (CFT) requirements. I am very excited to join this ground-breaking and progressive company and its highly professional team in Asia, at such a crucial time when many Asian governments are actively revising and enhancing legislation (and its associated requirements and responsibilities) in concert with global efforts against money laundering and the financing of terrorist activities."
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.