Singapore/Hong Kong, 22 November 2022 – Refinitiv, an LSEG business, was awarded Best Solution – PEPs, Sanctions & Name Screening in the 5th Regulation Asia Awards for Excellence 2022 at an in-person ceremony on 22 November 2022.
Refinitiv was recognised for its World-Check Risk Intelligence platform, which is designed for use in screening for AML, sanctions, and anti-bribery and corruption compliance programmes. With over 5.5 million records, including more than 52,000 active sanctions records, the World-Check database is globally comprehensive and uses stringent inclusion criteria and rigorous quality controls to ensure accuracy and relevance.
World-Check is powered by around-the-clock monitoring of sanctions lists, regulatory and enforcement lists, and reliable media and official sources. Dedicated research teams based in key locations throughout the world monitor tens of thousands of reliable open-source resources to create, update and where necessary delete risk relevant records.
World-Check records are highly structured in multiple overlapping ways; for example, records are tagged to over a thousand specific keywords, into dozens of categories, and into 66 Special Interest Categories identifying possible risk. This enables firms to apply highly targeted screening based on their risk-based approach, internal policies and procedures, and applicable regulatory requirements. The data is highly structured to ensure it can be easily integrated into various workflows and third-party solutions or deployed via the World-Check One API. In late 2021, Refinitiv also made available a dataset to help firms identify financial instruments with a specific sanctions nexus.
“World-Check ultimately helps reduce the sanctions screening workload, minimise operational costs, and overcome the significant challenges of complying with complex narrative, implicit and sectoral sanctions,” said one judge on the Regulation Asia awards panel. “The strength of the database lies in its extremely high quality data, enhanced with human expertise and context – a must-have in the current geopolitical and sanctions environment.”
World-Check data and service offerings are a category leader, and are used by over 10,000 clients, including 49 of the world’s top 50 banks, as well as challenger banks, crypto exchanges, payments and fintech firms, insurance providers and asset managers. Non-financial corporates also use World-Check to solve for challenges relating to ESG, modern slavery and supply chain risks.
About the Regulation Asia Awards for Excellence 2022
The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that help ensure the highest regulatory compliance standards are upheld in the financial industry. Each year, senior industry practitioners serve on a judging panel to help assess and score each submission to determine the winning entrants.
For a full list of the award 2022 winners, visit www.regulationasia.com/awards.
About Regulation Asia
Regulation Asia is the leading source of actionable regulatory intelligence for Asia Pacific markets. With over 12,000 subscribers, including regulatory bodies, exchanges, banks, asset managers and service providers, Regulation Asia plays a key role in shaping the regulatory agenda.