FinScan Announces Support of World-Check Iran Sanctions Data

By Finscan, PRNE
Sunday, November 21, 2010

Clients able to use FinScan to automatically screen customers and relationships for potential Iran sanctions exposure

PITTSBURGH, November 22, 2010 - FinScan, a leading international provider of sanctions, PEP and
heightened risk screening solutions, today announced its integration and
support of the new World-Check Iran Economic Interest (IEI) solution.
World-Check, the world authority on regulatory and reputational risk
identification and remediation, developed the IEI database in response to the
increased prohibitions on business relationships with Iran as required by
international legislation such as the U.S. Government's Comprehensive Iran
Sanctions, Accountability and Divestment Act (CISADA) of July 2010 and the
U.N. Security Council Resolution 1929 (UNSCR 1929), as well as sanctions
passed by the European Union, Canada, Australia, Japan and others. Through
its integration and delivery of the World-Check IEI data, FinScan is now
equipped to provide its customers the ability to automatically screen every
client, relationship and transaction for individuals and entities believed to
have had a relationship with Iran.

To assist organizations in complying with the recent sanctions, the new
World-Check database includes not only entities associated with the Islamic
Revolutionary Guard, which World-Check has monitored for many years, but also
reported associations with Iran's energy, financial, trade, insurance and
transportation sectors, among other sectors. World-Check analyzes and then
profiles risk intelligence from many hundreds of thousands of public domain
sources in more than 60 languages, including Farsi, across 5 continents with
over 450 researchers. To date World-Check has identified tens of thousands of
organizations and individuals engaged in sanction-relevant activity and has
identified hundreds of entities, often years before they appeared in official
sanctions lists.

"The U.S. Treasury Department has made it very clear that it will not
tolerate any business or financial organization that does business with the
United States
to also do business with Iran," said Michael Ott, senior vice
president of FinScan. "CISADA and the other new international anti-Iran
sanctions also demand higher levels of screening accuracy and due diligence
than previous anti-terrorism and anti-money laundering mandates.

"FinScan's robust matching software already operates seamlessly with
World-Check's new IEI database," Ott continued, "and has been successfully
used to screen the customers of a major U.S. financial institution. We've
demonstrated the ability to meet the requirements of processing this unique
new file and are pleased to be working with World-Check and its clients in
complying with these sanctions."

Proven in thousands of projects worldwide, FinScan's robust matching
engine facilitates the efficient and accurate screening of customers with
very precise, user-configurable rules for flagging suspicious records. Its
sophisticated processing greatly reduces the risks associated with missing
real matches and minimizes the time and costs associated with researching
false matches. It can be used to screen customers against virtually any PEP
or sanctions database or list, trade or industry sanctions list, fraud,
deceased, or internal do-not-do-business list.

To meet the compliance screening needs of a broad range of corporate,
private and public organizations, FinScan's powerful screening capabilities
are available as a licensed, hosted or Internet-based transactional solution.
FinScan processes billions of transactions annually on a hosted basis for
clients in the Americas, Europe, the Middle East and Africa. Its clients
include financial service companies, transportation authorities, government
agencies, and companies utilizing the software and services to screen
suppliers, clients, and employees. FinScan can be easily interfaced with ERP,
payment, shipping invoice, and financial service firms' application systems.

In addition to unparalleled screening precision, all FinScan solutions
provide a comprehensive compliance package that includes sanctions list
management and updating services, as well as automatic production of the
audit and due diligence reports that the U.S. and international mandates

About FinScan

As the compliance division of Innovative Systems, Inc., (ISI), FinScan
protects organizations against non-compliance with the world-class data
quality and data matching capabilities that are the cornerstone of all ISI
products and services.

FinScan helps financial services organizations worldwide meet the
requirements of international government regulatory agencies by providing the
most advanced sanctions list and PEP compliance solutions available. FinScan
offers 24/7/365 list management; licensed, hosted, or transactional screening
options; and automated due diligence reports to help ensure the most
effective and accurate compliance for its clients. The FinScan Web site is
located at The Innovative Systems Web site is

About World-Check

World-Check is the world authority on regulatory and reputational risk
identification and remediation.

Trusted by more than 4,500 institutions in over 160 countries, including
49 of the world's top 50 banks, World-Check offers an end-to-end solution for
assessing, managing and remediating financial, regulatory and reputational

The World-Check global database of Politically Exposed Persons (PEPs) and
heightened risk individuals and entities, due diligence reports, passport
verification and country risk assessment tools provide the means to address
the full spectrum of risk across all markets and industries. Represented
across five continents, World-Check's international research team monitors
emerging risks in more than 60 languages, covering over 240 countries and
territories worldwide. The World-Check Web site is located at

Trademark Notice

FinScan(R) is a trademark of Innovative Systems, Inc. All other products
or company names are used for identification purposes only, and may be
trademarks of their respective owners.

Karin O'Sullivan, Innovative Systems, Inc., +1-412-937-7678, kosullivan at

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