London, UK (PRWEB) May 12, 2008
World-Check, the leading global provider of intelligence on heightened risk individuals and entities, has reported that in the first four months of 2008 it has seen a 12% increase in the total number of client institutions using its services, and recently signed up its 2800th client(1) .
Annually more than 19 million names(2) are manually queried within World-Check Online, while many millions more are automatically screened against the World-Check Data-file. On a daily basis the results of those queries assist compliance officers, terrorism analysts and industry professionals worldwide to successfully detect potential financial criminal activities in their Anti Money Laundering, Counter Terrorism Financing and Know Your Customer procedures. World-Check's risk reducing intelligence is relied upon by institutions across the financial, insurance, accounting, legal, gaming, aviation, real estate, consulting, and natural resources industries, to name but a few. In addition more than 200 regulatory and enforcement agencies across the globe rely on World-Check's intelligence.
"World-Check is unique in many ways," said Laura Aboli, CMO of World-Check, "the dedication and commitment that goes into providing our customers with risk-relevant, highly structured, 'immaculate data' is simply unprecedented. Our customers know that with World-Check they are not only getting the best early warning system when it comes to risk but that they have a meticulously structured database that will make the automization process possible and return significant and valuable results. This coupled with our continuous investment in new and better ways to make our client's jobs easier, makes World-Check an unbeatable proposition. The latest growth in our customer base simply reflects the fact that the market place is more sophisticated and values our unique service. The growth we have experienced since the company was founded has been incredible, but there is one statistic that we are the most proud of - our 97-98% renewal rate year-on-year. "
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 2800 institutions in 153 countries, including 47 of the world's 50 largest financial institutions, and over 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.