Shinhan Bank Chooses World-Check for Efficient Identity Verification

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Shinhan Bank (신한은행), one of the largest banking groups in Korea, has chosen World-Check's risk intelligence service to enhance its internal AML, CFT and KYC processes.

Shinhan Bank (신한은행), one of the largest banking groups in Korea, today announced that it has chosen World-Check's risk intelligence service to enhance its Due Diligence and Know Your Customer (KYC) risk screening processes.

"Shinhan Bank endorses the highest standards of responsible business and we are therefore committed to installing the world's leading fraud, money laundering and counter terrorism financing prevention systems" said Mr. Han Jong Hun, Deputy General Manager, Compliance of Shinhan Bank. "By utilising World-Check for customer identity verification we are confident that our risk management processes meet those required by regulatory bodies worldwide".

"More than 3000 companies and organisations worldwide rely on our risk intelligence database and we are proud to be assisting Shinhan Bank in strengthening their risk management systems", said Daniel Peak, Chief Executive Officer of World-Check. "With the support of our alliance partner eSum Technologies, we will provide the Bank with an efficient screening solution for mitigating reputational and financial risks across the bank's operations".


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, financial criminals, terrorists, narcotics traffickers, shell banks and sanctioned entities 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. For more information please visit


Shinhan Bank started as a small enterprise with a capital stock of KRW 25.0 billion, 279 employees, and three branches on July 7, 1982. Today, it has transformed itself into a major banking corporation, boasting total assets of KRW 176.9 trillion, equity capital of KRW 9.7 trillion, 10,741 employees, and 1,026 branches as of 2006. Total deposits and net income amounted to KRW 105.3 trillion and KRW 1.4 trillion, respectively. The bank is headquartered in Seoul, Korea and is part of the Shinhan Financial Group. For more information please visit


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Marion Willson
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