(PRWEB) December 19, 2008
London, UK PRWEB) December 19, 2008 -- Dragon Capital Group, the most experienced investment house in Vietnam, today announced that it has chosen World-Check to enhance its Due Diligence and Know Your Customer (KYC) compliance processes. World-Check is the leading provider of risk intelligence for the screening of customers, transactions, employees, prospective clients and service providers in accordance with globally accepted risk management procedures.
The incorporation of World-Check forms part of Dragon Capital's implementation of international best practice in order to meet its compliance obligations with all relevant anti-money laundering laws in their respective legal and operational jurisdictions.
"With World-Check's risk intelligence we are confident that we are effectively mitigating regulatory, financial and reputational risk across all of our operations", said Mike Temple, Director of Finance Administration Operations of Dragon Capital.
"We are delighted that Dragon Capital has chosen our service and look forward to assisting their compliance teams with their ongoing compliance requirements" said Daniel Peak, Chief Executive Officer of World-Check. "Our research teams regularly identify heightened risk individuals and entities up to seven years ahead of major international sanction lists making us the industry leaders in risk mitigation."
ABOUT DRAGON CAPITAL GROUP
Dragon Capital Group is the most experienced asset manager in Vietnam, and is involved in a wide range of financial activities. The group was established in 1994 and currently has an asset base in excess of USD1.4 billion. The World Bank through its investment arm the International Finance Corporation (IFC) owns 10% of the group; Proparco, a subsidiary of Agencie France du Development, the development finance agency of the French government holds 5% and the remaining stake is held by management. Dragon Capital employs over 100 people based in offices in Ho Chi Minh City, Hanoi and the UK. The UK office, Dragon Capital Markets (Europe), is authorised by the FSA.
World-Check provides its global database of heightened-risk individuals and businesses to more than 3000 institutions in 162 countries, including 47 of the world's 50 largest banks and hundreds of government agencies. World-Check's database of known money launderers, terrorists, narcotics traffickers, shell banks and sanctioned entities among others is unparalleled in its depth, reliability and coverage. The risk-relevance of its Politically Exposed Person (PEP) coverage is also unsurpassed. World-Check's database is relied upon by institutions to enhance their Anti Money Laundering (AML) and Know Your Customer (KYC) screening, Enhanced Due Diligence (EDD), fraud prevention and Counter Terrorist Financing (CFT) systems by efficiently screening customers, associates, transactions and employees for potential risk. World-Check's intelligence also finds direct application in PEP risk screening processes. World-Check offers a downloadable data file for the automated screening of unlimited records, as well as a simple online service for instant entity screening.