Why World Check

Banks, and other financial institutions, use World Check as an important tool to ensure that clients who wish to open an account with them, are not politically exposed. World Check is considered a highly important tool to avoid politically unsafe customers within a banking environment.

Purpose of World Check

Financial institutions that have international clients use the World Check database to screen their clients, associates, transactions, and employees for potential risk. As a licensed financial entity, it is imperative that you acquire the appropriate World Check software.

As a structured database, World Check is updated on a daily basis, in line with industry standards. It covers money launderers, fraudsters, terrorists and sanctioned entities, as well as politically exposed persons, along with their family members. World Check is an excellent tool to promote banking safety as it ensures that no high-risk individuals or businesses become clients of yours.

If a customer signs up to your banking institution, it is important to complete the process of World Check by inputting the customer’s name into the database, to make sure that they have no connections with any of the above-mentioned activity. If the World Check database flags the client as suspicious for any reason, the information will be checked and the client’s application may be rejected, and they will not be able to become a member of your bank.

Individuals and companies that wish to establish a financial institution are advised to seek the assistance of a professional consultancy firm. Through the expert advice and guidance of knowledgeable consultants, you can ensure that the entire procedure is completed in a professional and timely manner.