MIAMI, July 10, 2012 /PRNewswire/ -- Miami-headquartered Global Intelligence Company, WorldCompliance, today announced that Banque de France awarded them a multi-year contract for their due diligence solution.
Thierry Kolton, CEO of STAR-ACHATS, newly appointed Distributor of WorldCompliance in France, commented, "We are delighted that Banque de France has chosen WorldCompliance as their PEP provider (Politically Exposed Persons). WorldCompliance Global PEP List is the perfect fit for Financial Institutions, Insurance companies and other entities that want to comply with the French transposition of the 3rd European AML Directive."
WorldCompliance helps French entities to comply with the new explanatory guidelines published by Autorite de Controle Prudentiel in 2011, mandating due-diligence on customers and third-parties including identification of ultimate beneficiary owners.
WorldCompliance provides private industry and intelligence communities with solutions used to identify individuals and companies linked to over fifty different risk categories, such as terrorism, narcotics, money laundering and PEPs (Politically Exposed Persons).
"Banque de France approached us to help them with their due diligence efforts, in particular safeguarding against high risk entities on sanction lists as well as vetting PEPs worldwide," said Dirk Mohrmann, CEO of WorldCompliance. He added, "We look forward to building a strong working relationship with Banque de France, helping them to protect their prestigious institution as well as the integrity of the financial system."
Banque de France is headquartered in Paris and is part of the Euro system, which comprises the European Central Bank and the national central banks of the Eurozone.