Thomson Reuters buys World-Check
17 May 2011 | 12497 views | 0
Thomson Reuters has acquired London-based financial crime and corruption prevention specialist World-Check. Financial terms of the deal were not disclosed.
World-Check claims 49 of the world's top 50 banks use its database of risky individuals and businesses to screen their customers, associates, transactions and employees.
The firm, which employees around 500 people in 11 locations around the world, will continue to be led by current CEO anf romer Thomson alumni Dan Peak as part of Thomson Reuters' governance, risk & compliance (GRC) business.
With financial crime one of the fastest growing areas of regulatory risk for businesses, the acquisition boosts Thomson Reuters' position in the market, complementing the introduction earlier this year of Accelus, a suite of information, software and services for compliance, audit, legal, mergers and acquisitions, and risk professionals.
David Craig, president, GRC, Thomson Reuters, says: "Growing our presence in the GRC sector is a key strategic priority for Thomson Reuters, and the addition of World-Check will extend our presence in the important and fast-growing financial crime and corruption prevention segment."