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May 15, 2018

Thomson Reuters Harnesses Artificial Intelligence to Filter Media Content in Fight Against Financial Crime

World-Check One’s Media Check helps prioritise media content most relevant to Anti-Money Laundering/Know Your Customer compliance

NEW YORK/LONDON, May 15, 2018 – Thomson Reuters has enhanced its World-Check One platform with the launch of Media Check, a unique media screening and processing feature powered by artificial intelligence (AI) that helps address the regulatory and reputational consequences of overlooking key data in the fight against financial crime. Media Check’s machine learning capability increases efficiency by filtering unstructured content from over 11,000 global print and web sources, giving financial institutions more accurate and relevant data faster.  

Thomson Reuters is committed to innovative solutions to assist its customers in the global fight against financial crime, and alleviate the considerable challenges associated with risk screening.

“Institutions need to digest an increasing amount of relevant information to help prevent financial crime. The next-generation AI technology in Media Check lets them navigate this crowded environment to help comply with regulatory and other requirements and avoid the reputational risk of missing critical information that could result in criminal activity,” said Phil Cotter, Managing Director, Risk Segment, Thomson Reuters. “Adding a machine learning dimension to our World-Check One platform gives clients an exceptional means to help pinpoint the most relevant media information, thereby maximizing the efficiency of their due-diligence processes."

World-Check One’s Media Check has many benefits that include enhanced compliance workflow, and the assurance that only relevant content is presented to compliance professionals.  This is achieved through intelligent searching, a unique AML taxonomy informed by 15 years of industry leading World-Check experience, and machine learning algorithms honed by the World-Check research team.  The result is a reduction in false positives and improved content navigation leading to better and more informed decision-making. Media Check also provides continuous, up-to-date media and data monitoring.

For more information on World-Check One’s new Media Check offering, please visit here.

Since its inception in 2014, World-Check One has been at the forefront of innovation, bringing customers the latest in screening capabilities. In March 2018 the Customer Risk Screener app was introduced, integrating World-Check data into the Salesforce AppExchange. Earlier this year, a Watchlist Screening functionality was launched, enabling users to upload and manage their internal and public third-party lists for screening alongside the World-Check data in one simple workflow.  Since 2017, the platform has offered an expanding language review capability beyond English, encompassing Japanese, French, Spanish, Simplified Chinese and Russian.

World-Check One has earned industry recognition, starting with the 2014 Technology Development of the Year Award at Asia Risk Awards, and in 2015, the GRC Technology Innovation Award, as well as the Best Risk Management Technology of the Year at the Wealthbriefing Asia Awards.

About World-Check

World-Check is a risk intelligence database which helps organisations across the world meet their regulatory obligations, make informed decisions and help prevent them from inadvertently being used to launder the proceeds of financial crime or association with corrupt business practices. The database is managed by a team of over 350 highly trained analysts, speaking more than 65 languages, who monitor more than 600 sanctions, regulatory and law enforcement lists and thousands of media sources, as well as company information and regulatory filings, to ensure World-Check’s data is accurate and up-to-date. The information in World-Check is made available on a subscription basis only to those who require it to carry out due diligence or other screening activities in accordance with their legal or regulatory obligations or risk management procedures designed to combat financial crime.  For more information about Thomson Reuters World-Check, visit https://risk.thomsonreuters.com/worldcheck

About Thomson Reuters

Thomson Reuters is the world’s leading source of news and information for professional markets. Our customers rely on us to deliver the intelligence, technology and expertise they need to find trusted answers. The business has operated in more than 100 countries for more than 100 years. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, visit www.thomsonreuters.com.