World-Check's Terrorism Coverage Exceeds Sanction Lists, Adding Risk Relevant Depth to Institutional CFT Compliance Programs

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World-Check, the leading end-to-end risk management services provider, today released updated terrorism coverage figures for 2009. World-Check's Terrorism and Insurgency Research Unit (TIRU) has profiled more than 37,000 unique entries as of 30 June 2009. Terrorism is one of 24 risk categories covered by World-Check's global research teams, including official sanctions lists worldwide.

World-Check, the leading end-to-end risk management services provider, today released updated terrorism coverage figures for 2009. World-Check's Terrorism and Insurgency Research Unit (TIRU) has profiled more than 37,000 unique entries as of 30 June 2009. Terrorism is one of 24 risk categories covered by World-Check's global research teams, including official sanctions lists worldwide.

The terrorism content of the US OFAC, HM Treasury, EU and the UN currently totals 940 entries amounting to less than 3% of World-Check's overall terrorism content. Widely considered the four benchmark sanction issuing authorities, these comparative results confirm that World-Check remains the industry authority on tracking the broad organisational infrastructure of terrorist groups worldwide.

International legal and regulatory regimes, focused on countering the financing of terrorism (CFT), have created many new compliance requirements for countless economic sectors. Integrating CFT measures within an effective risk-based compliance program can make a significant impact on disrupting terrorism. Although terrorist attacks can be carried out with relatively small amounts of money, developing and maintaining terrorist support infrastructures for travel, safe houses and training can add up to substantial sums. Targeting these support networks significantly downgrades terrorists' capacity for perpetrating attacks, and the essential first step is identifying those elements involved in the terrorist supply chain that enable terrorist violence to take place.

"The operational capability of any terrorist movement depends on its financial support network, and our capacity to continuously identify and detail the terrorist supply chain years ahead of official authorities adds depth and value to institutional risk management systems" said John Solomon, Head of World-Check's TIRU. "World-Check's comprehensive risk data supplements official sanctions lists coverage and dramatically increases the effectiveness of CFT compliance programmes."

World-Check's TIRU consists of open source intelligence specialists that collect and analyse risk-relevant information in more than 33 critical languages. Operating 24 hours a day, seven days a week across the globe, the unit identifies and monitors myriad networks belonging to terrorist and insurgent movements, including all of those designated by government authorities. By placing special emphasis on financing patterns and support structures, TIRU also documents the overlapping networks and fundraising methods of transnational crime groups involved in terrorism.
World-Check effectively alerts clients to terrorism-related risk stemming from business and charitable fronts, state supporters that provide sanctuary and security, financiers and financial facilitators, and even transnational criminals such as arms dealers and narcotics cartels.

Recent examples include the Pakistan-based charity Jamaat-ud-Dawa (JuD). JuD was profiled by World-Check in 2001, eight years before the group was officially sanctioned by the UN on 10 December 2008 as a front for the Pakistani militant group Lashkar-e-Taiba. The UN also designated four suspected plotters of the Mumbai terrorism attack on the same date. All four individuals were profiled on World-Check between seven months and seven years before. The individuals include Zaki-ur-Rehman Lakhvi, allegedly Lashkar's operations chief, who had been profiled on World-Check since May 2002; Muhammad Saeed, the group's leader, who was profiled in January 2002; and Haji Muhammad Ashraf and Mahmoud Mohammad Ahmed Bahaziq, both profiled in May 2008.

Another example relates to three senior leaders of a German cell of the Islamic Jihad Union who were named as Specially Designated Global Terrorists by OFAC on 4 December 2008. World-Check's researchers profiled these individuals in detail over a year before the sanctions were issued.

Furthermore, on 20 November 2008, OFAC designated three key leaders of the al-Shabaab terrorist movement in Somalia. World-Check's researchers had created detailed profiles of these individuals up to two years before these sanctions were issued.

http://www.treas.gov/press/releases/hp1283.htm
http://www.treas.gov/press/releases/hp1313.htm
http://abcnews.go.com/International/wireStory?id=6437889

About World-Check
Trusted by more than 3,800 institutions in over 160 countries, including 49 of the world's top 50 banks, World-Check offers an end-to-end solution for assessing, managing and remediating financial, regulatory and reputational risks.

World-Check's global database of heightened risk individuals and entities, Enhanced Due Diligence (EDD) reports, passport verification and country risk assessment tools provide the means to address the full spectrum of risk across all markets and industries.

Represented across five continents, World-Check's international research team monitors emerging risks in more than 50 languages, covering over 240 countries and territories worldwide.
For more information visit http://www.world-check.com/

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Marion Willson
World-Check
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