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Customer screening / the vetting process

Data compilation

Know Your RiskOur investigative teams mine media channels, websites and official records worldwide to compile data on individuals and organizations linked to high risk activities.

Data validation

Once compiled, the teams analyze the results to produce a profile. Each profile takes an average of four hours to complete in order to ensure that the information is accurate.

Profile summary

Each profile contains unique identifiers such as photos, DOB and passport numbers. In addition, each profile has a complete relationship web, identifying and linking the entities family members and business associates.

Data updates

Once validated, profiles are routinely updated as soon as there is a change; whether it’s a change of address or the addition of a new relationship to the profile.

Data modules

The profile contents are compiled into a series of database modules, which can be tailored according to your business’s needs.

These are:

  • Global Adverse Media:  an extensive proprietary database of entities that have been linked to illicit activities by news sources
  • Global Enforcement:  Comprised of information received from regulatory and governmental authorities
  • Global PEP: Includes profiles of Politically Exposed Persons, as well as those of their family members and close associates
  • Global Sanction: Aggregates information from the most important sanction lists around the world and groups them into one category
  • Global Foreign Officials: Contains the profiles of individuals and companies suspected or known to be involved in illegal activities as well as entities who served as middlemen or shell companies for such activities

With over 1.8 million profiles, WorldCompliance manages the most comprehensive global database of potentially high-risk profiles commercially available.

Screening

Account opening due diligence

The database can be accessed through World-M, our online account opening customer screening software. World-M is used for the purpose of initial due diligence in order to ensure that the individual or organization your vetting does not pose a risk. World-M is ideal for searching small numbers of entities; whether it’s an individual, supplier, vendor or senior government official.

Continuous monitoring due diligence

World-ZL, our continuous monitoring batch screening software is meant for use in larger organizations with greater numbers of client verification needs. World-ZL compares an unlimited number of customer records against the WorldCompliance database to identify high risk entities. In addition, World-ZL contains an on-going monitoring feature that alerts you to changes in a profile status, ensuring that your organization is always secure.

Turnkey risk scoring vendor due diligence

World-Neo is our turnkey risk scoring vendor screening software, ideal for organizations with multiple vendors, suppliers and third party agents. World-Neo provides a complete screening solution; from the initial due diligence process to continuous monitoring of the entities within your business network. World-Neo’ s risk scoring model allows you to determine the level of risk you want to absorb, while keeping you abreast of changes in the profiles of your business network. It is ideal for meeting the stringent demands of the FCPA (Foreign Corrupt Practices Act) and the U.K. Bribery Act.

How do you benefit?

The combination of WorldCompliance database and software solutions allows organizations to vet their customers, vendors and suppliers by employing micro-categorization and risk scoring strategies. The implementation of these strategies dramatically decreases the number of false positives generated; freeing up resources to focus on the true matches generated, saving considerable time and money while safeguarding your organizations finances and reputation.

Our unique selling proposition

Working with multiple industries worldwide has given us a unique perspective, one based on the ability to meet a client’s particular business needs, no matter the jurisdiction. We are experienced in handling the provisions of every major piece of legislation pertaining to Know Your Customer (KYC) and Due Diligence processes. This allows us to quickly identify gaps in the client’s processes and recommend a solution to ensure their complete protection. Over 2,000 customers worldwide rely on our services to insure their organizations against reputational risk.