Thomson Reuters World-Check
Trusted and accurate risk intelligence to help you comply with financial crime legislation. Trusted by the world’s largest firms, World-Check simplifies day-to-day on-boarding and monitoring decisions to help you meet regulatory obligations.
What we do
Why we do what we do
Financial crime has an incalculable adverse impact on our world. The proceeds of such crimes, including bribery, corruption, fraud, narcotics trafficking and organized crime, have all been implicated in the financing of terrorism, human rights abuses such as slavery and child labor, and environmental crime.
“…as it rewards corruption and crime, successful money laundering damages the integrity of the entire society and undermines democracy and the rule of the law.”
Financial Action Task Force (FATF)
Estimates suggest the cost of financial crime is between 3-4% of global GDP – or more than $2.5 trillion, that is equivalent to the GDP of the United Kingdom.
In a bid to counter the escalating problem of financial crime, anti-money laundering legislation has been tightened considerably over the past few years. The latest updates have focused more than ever on the need for transparency in business and transactions.
Businesses have to comply with know your customer, anti-money laundering, countering the financing of terrorism and anti-bribery-corruption laws and regulations. As a result, they are obliged to collect information on whom they are doing business with, not only at the beginning of a relationship, but on an ongoing basis. The information collected during this process needs to be screened against sanction lists, law enforcement watchlists and, in some locations, lists of Politically Exposed Persons. Depending on the legislation in a given jurisdiction, these may be national, local, global or a combination of all three.
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 we do what we do
- We have an extensive research infrastructure with offices across the globe, and hundreds of trained analysts speaking more than 60 languages
- We maintain a responsible, proportionate ethical approach - only using credible and reputable open source information
- World-Check combines human expertise and technology to provide a global, structured, database which is de-duplicated, and quality controlled
- The data is presented in a highly structured format that can be absorbed into the due diligence and screening process via common formats across a variety of software and technical platforms
Our data is made available 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. See our World-Check Privacy Statement for more complete information.