CCR World Magazine

London, 9 August, 2011 – Following a successful trial of World-Check's Risk Screening Solution, World-Check Online, the Office of the Prosecutor of the International Criminal Court (ICC) joins over 300 regulatory and enforcement agencies world-wide in selecting World-Check. The Office of the Prosecutor acts independently as a separate function of the ICC, responsible for investigating and prosecuting the most serious crimes of international concern, namely genocide, crimes against humanity and war crimes.

As money launderers and criminal networks become ever more sophisticated in the methods they employ to disguise the source of their funds, the requirement on FIUs to step up their technical resources particularly in terms of database processing, has become an imperative. When suspicions are reported, the judiciary’s powers are immediately brought into play: seizing funds, conducting searches, interrogations. The information required to carry out a thorough investigation into the origins and ultimate beneficiaries of funds can be significantly enhanced through employing an industry standard KYC risk screening solution such as World-Check.

According to the Head of the Office of the Prosecutor's Financial Intelligence Unit, “The depth and breadth of World-Check's research capability was an important consideration and a critical factor in our decision to adopt World-Check. It's meticulously structured data is an invaluable tool in the fight against financial crime and one of the key pieces of software that makes any such unit fit for purpose.”

According to Dan Peak, CEO of World-Check: "We are delighted the Office of the Prosecutor has decided to partner with World-Check. After having carried out a rigorous and thorough trial of our service, we feel that its decision to rely on World-Check to support its intelligence gathering exercises in investigations into heightened risk individuals and networks will be thoroughly vindicated."

He continued: "The continued co-operation between both the private and public sector is essential in identifying and dismantling international criminal networks. The mobilisation of the international community and the implementation of legal means to combat money laundering go hand in hand with the reinforcement of the investigatory powers of FIUs and the cooperation of financial institutions. Our role at World-Check is to ensure we guarantee the availability of the most comprehensive, up to date intelligence to support international efforts to bring down the criminals. "

Working through Trust Alliance Compliance Solutions, a reseller of regulatory and risk compliance solutions and a preferred partner for World-Check in the Netherlands, the ICC relationship further cements World-Checks industry leading position in providing solutions that help organisations everywhere meet with their obligations.

(Source - World-Check Media Alert)