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Uncovering Corruption with Laser-Like Accuracy

Date: June 17, 2009

Uncovering Corruption with Laser-Like Accuracy

MIAMI, June 17 /PRNewswire/ -- Since 9/11, legislation ranging from The Patriot Act, The 3 EU Money Laundering Directive, The Foreign Corrupt Practices Act and most recently The Fraud Enforcement and Recovery Act, have placed greater burdens on companies to know who they are doing business with.

Financial institutions and Fortune 1000 companies use innovative information solutions to reduce their exposure towards corruption and money laundering.

Protecting a corporation from inadvertent involvement in illicit activities requires the screening of customers, suppliers, vendors or other business partners, to detect hidden relationships with public figures. This can be a time-consuming and expensive proposition. Commercial intelligence databases often promise cost-efficient manual investigation as well as automated methods of screening.

World Compliance today announced the newest release of its Online License. This web based service offers great accuracy in investigations. It gives clients the option to define the depth of intelligence they want to apply to the investigation, reducing the number of false positives by as much as 75%. “The enhancements are a direct result of customer demand to lower operational costs through greater investigative accuracy,” stated Dirk Mohrmann, CEO of World Compliance. “We are offering our clients the flexibility to tailor the database, according to the exact requirements of their respective law and risk
appetite. Investigations can be conducted faster and more accurate than ever before,” added Dirk.

The World Compliance Online License allows customers to identify high risk individuals; Profiles show photos, names, dates of birth, biographies and display the relationship network in a unique graphical way for easy risk analysis.

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