Why financial crime screening?
At the core of financial crime legislation is the need to prevent those with criminal intent from using banks and businesses to launder money and conduct corrupt business practices.
As criminals become increasingly sophisticated in their approach, the need for transparency in business relationships becomes ever more prevalent. In the global fight against financial crime, it is crucial that banks and non-financial entities alike take steps to prevent criminals from using them to launder money and facilitate corruption.
World-Check gives you the tools you need to help meet your due diligence obligations, including meeting your requirements under Know Your Customer anti-money laundering and counter-terrorist financing legislation; and anti-bribery and corruption customer and counterparty due diligence and screening.
All of us are automatically subject to some form of due diligence or screening, for example when opening a bank account, consulting a lawyer, or starting a business relationship with a multinational organization. This is done for the safety of all parties, and to promote transparency and security in our business relationships.
How does World-Check help organizations fight financial crime?
Since inception, World-Check has supported the risk screening needs of the world’s largest banks and financial institutions, corporations, law enforcement, and government and intelligence agencies – locally, regionally and globally.
“As regulation grows and as the need for more KYC and due diligence increases, there will be new competitors coming into the landscape, but to date Thomson Reuters is still at the forefront with their product.”
Rod White Director, Head of North America and Bermuda Equinoxe Alternative Investment Services
With hundreds of trained research analysts across the globe, collectively speaking more than 60 local languages, we deliver the widest financial crime-related coverage available.
Our data is derived from sources available to the general public. The information is collated from an extensive network of credible sources, including:
- 600+ sanction, watch, regulatory, and law enforcement lists
- Local and international government records
- Country specific data sources
- International adverse electronic and physical media searches
- English and foreign language data sources
- Relevant industry sources
Data can be accessed using purpose-built screening platforms, APIs and selected partner software.
We take data privacy seriously
Our risk intelligence data is responsibly and proportionately collected, structured and monitored in line with strict data privacy policies.
The information in World-Check is made available on a subscription basis only to those who require it to carry out due diligence or other screening activities in accordance with their legal or regulatory obligations or risk management procedures designed to combat financial crime.
Thomson Reuters only makes personal data available for the legitimate use by its private and public sector subscribers.
We are committed to fighting financial crime
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Enhanced due diligence processes form part of a best-practice, risk-based approach as well as providing a critical framework during the anti-money laundering and know your customer on-boarding life cycle.