2010 marks the 10 year anniversary of World-Check, the frontrunner in providing open source research and intelligence in the global fight to combat fraud and corruption. The company brought to market the first internationally recognised database of Politically Exposed Persons (PEPs) and heightened risk individuals and entities.
World-Check, founded by David Leppan in 2000, is supporting 10 social responsibility projects and charities throughout its 10th anniversary year. The first of these projects to receive a World-Check contribution is SOS Children's Villages, Haiti. Nine further charities will receive donations throughout the year.
David Leppan, Founder and Executive Chairman, World-Check said: "While companies may have hoped the compliance burden would ease over the past decade, world events such as 9/11 and 'tough and targeted' government measures to combat corruption and white collar crime that supports international criminals and would-be terrorists has seen the volume of world-wide legislation, regulation and enforcement increase dramatically.
"In 2010 companies in every sector are making crucial enhancements to their compliance processes to guard against the threats of financial crime, fines and damaged reputations. Legislation such as the FCPA, the UK Bribery Act and more recently the additional Iranian sanctions are all signals that governments and regulatory bodies on both sides of the Atlantic are prepared to go further than ever before to stamp out 'white collar' crime.
"These crimes come in many different forms and the manner in which they are committed is becoming increasingly more complex and frequent. The effects on individuals can be devastating. Through our 10 for 2010 programme, we hope to raise awareness of the plight of the all too often 'unrecognised or ignored' victims of crime and draw attention to the true cost of these sorts of crimes on society."
New Anti-Money Laundering (AML) rules implemented in the UK in 2007 intensified US and EU Iranian Sanctions this year, and the UK Bribery Act which will become law in 2011 force companies to review their existing AML and anti-corruption processes. Time and again, World-Check has been first to market with effective propositions and products that specifically target the demands of the new regulatory environment. It is this unswerving commitment to monitoring and analysing regulation and enforcement that has enabled World-Check to remain number one in the marketplace.
Mr Leppan said "World-Check consistently anticipates the changing legislative environment and works with its customers to ensure it is developing affordable, easy-to-use solutions that alleviate the administrative burdens posed by new legislation."
"World-Check has become the trusted early warning system for countless organisations around the globe, with 97% of our clients choosing to renew and grow their relationship with us each year as they manage and mitigate their exposure to risk. Over the next decade, our customer promise is that we will continue to scan the horizon for emerging financial regulations and risk, and identify best possible tools to ensure that our customers, wherever they are in the world, can ease their compliance burden."
"As a start-up we helped the Swiss financial banking industry address its Know-Your-Customer (KYC) and Anti-Money Laundering (AML) requirements. Today we provide research and intelligence to more than 4,500 organisations helping to protect their businesses and reputation from the continual threat of financial crime. We have a global footprint, with over 450 researchers based in centres across five continents supporting clients in over 160 countries."