The International Investment Bank (IIB) has completed the implementation of the full version of the World Check database, a risk management solution from Thomson Reuters, the world's leading provider of analytical information for business and banking professionals.

The World Check solution enables the Bank to automatically check potential and existing counterparties, beneficiaries and associated persons, revealing relevant compliance risks for further evaluation.

World Check provides access to information on individuals and companies in any respect associated with higher compliance risks, money laundering, organised crime, terrorism or on politically exposed persons (PEPs). The database also allows checks taking into account sanctions lists.

“IIB’s use of advanced technologies in the area of compliance control while operating on geographically and structurally diverse markets of our member states represents the key to safe and responsible business in the interests of the Bank’s shareholders,” - commented Grigory Gruzinov, Director of IIB’s Compliance Department.

Piotr Marczewski, Managing Director of Thomson Reuters in Russia and CIS, said: "We are delighted that the International Investment Bank, the company with the highest corporate culture, the company which is so scrupulous about compliance with Know Your Customer requirements, opted for the solution of Thomson Reuters. Selection of our customers is always a recognition of the high reliability of our solutions. We are pleased to provide the technology, innovations and expertise to help our customers find answers to questions crucial to their business".

Access to World Check significantly reduces influence of the human factor during monitoring of risks associated with counterparties and creates optimal conditions for internal banking procedures and processes that are in line with widely accepted rules and standards in the area of compliance.

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