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World-Check[1] is a database of politically exposed persons (PEPs) and 'heightened risk' individuals and organizations. World Check formed part of the Thomson Reuters Risk Management Solutions suite before being transferred to Refinitiv after a merger deal with The Blackstone Group in October 2018.[2]
History
editWorld-Check was founded in 2000 by David Leppan and registered in London. In 2008, World-Check launched Country-Check, an index which ranks over 240 countries and territories worldwide in terms of risk.[citation needed]
In 2009, World-Check acquired IntegraScreen.[3] In 2011, World-Check received independent assurance under the International Standard on Assurance Engagements ISAE 3000.[citation needed] Also in 2011, Thomson Reuters acquired World-Check for their governance, risk management, and compliance unit. In October 2018, Thomson Reuters closed a deal with The Blackstone Group and, as a result of this merger, World-Check is owned by Refinitiv.[2]
Partnerships
editWorld-Check is used by several financial firms, such as Lloyd's of London since 2008,[4] Maecenas,[when?] and SAI Global[when?] as a risk management partner.[5]
Controversies
editFalse claims
editIn 2017, World-Check admitted that the Palestine Solidarity Campaign should never have been placed on their database at all, and specifically, should not have been associated with terrorism.[6] World-Check agreed to pay compensation and apologize to Finsbury Park Mosque.[7]
In 2017, Quilliam founder Maajid Nawaz was found to have been listed as a terrorist in World-Check following an investigation by Vice.[8] Thomson Reuters subsequently removed his name from the list, apologized, and paid an undisclosed amount in damages as part of the settlement following the threat of a lawsuit by Nawaz.[9][10]
See also
editReferences
edit- ^ "Access World-Check Data".
- ^ a b "Thomson Reuters closes deal with Blackstone, rebrands as Refinitiv - The TRADE". www.thetradenews.com.
- ^ "News | World-Check Acquires IntegraScreen | Spectrum Equity". www.spectrumequity.com.
- ^ "Lloyd's selects World-Check for due diligence and KYC compliance". Finextra Research. July 31, 2008.
- ^ "Third-Party Risk Management and Thomson Reuters World-Check". www.saiglobal.com.
- ^ "Palestine Solidarity Campaign Removed from World-Check Terrorist Listing". International Middle East Media Center. July 2017.
- ^ "Van attack shatters calm at mosque with a troubled history". Financial Times. 20 June 2017. Retrieved 21 June 2017.
- ^ "VICE News Reveals the Terrorism Blacklist Secretly Wielding Power over the Lives of Millions". news.vice.com. 4 February 2016.
- ^ "Press Release – Maajid Nawaz Wins Legal Battle Against Thomson Reuters World Check – Quilliam". www.quilliaminternational.com. Archived from the original on 2017-11-20.
- ^ "Exclusive: Secret Blacklist Grows Even After Journalists Placed on 'Terror' List Are Paid Off". www.vice.com. 18 October 2017.