London, UK (PRWEB) May 15, 2008
Habubank, the first commercial joint stock bank in Vietnam, today announced that it will utilise World-Check's risk intelligence solutions to enhance its due diligence and Know Your Customer (KYC) compliance processes. World-Check is the leading global provider of intelligence on heightened risk individuals and entities, with more than 2800 clients in 153 countries.
"Habubank is committed to promoting the highest standards of ethical and responsible business and therefore we have chosen World-Check to help address our regulatory and business requirements," said Mr. Nguyen Tuan Minh, Executive Director, Deputy Chief Executive Officer & General Counsel of Habubank. "World-Check's 97% year-on-year client renewal rate bears testimony to the confidence that other institutions have placed in this market-leading service. With World-Check's comprehensive coverage, we can be confident we are effectively mitigating risk across our various banking areas in order to ensure compliance, prevent illegal activity and protect our customers and our reputation."
"World-Check provides instant access to relevant KYC and Political Exposed Persons (PEPs) information to institutions worldwide, including 47 of the world's 50 largest financial institutions," said David Leppan, World-Check founder and CEO. "We are delighted that Habubank has chosen World-Check as part of their banking policy to align in-house compliance efforts with that of other leading and international financial institutions."
World-Check Media Desk
Tel: +44 208 099 7263
E-mail: mw2 @ world-check.com
World-Check provides its global database of heightened-risk individuals and businesses to more than 2800 institutions, including 47 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.
Established in 1989, with the initial purpose to provide loans and services in housing and building development field, Hanoi Building Commercial Joint Stock Bank ("Habubank"), headquartered in Hanoi, Vietnam, is one of the very few first commercial joint stock banks in Vietnam. In 1995, Habubank expanded into providing commercial banking services to businesses, SMEs, individuals and other financial institutions. Habubank is now one of the leading banking institutions in Vietnam and strategically positioning itself to meet the demands of future growth, aligned with economic development in Vietnam.
With more than 18 years in business, Habubank now has a chartered capital of VND 2000 billion and a total asset of VND 23519 billion (as of 31 December 2007) and, with a view on long-term growth, is steadily growing its domestic branch network and range of product offerings. In recognition of its achievements, Habubank has been awarded an "A" (the top) grading over the past 8 years and is recognized as one of the safest, most efficient, and stable banks by the State Bank of Vietnam.