Global Sentry Features and Benefits
Worldwide Compliance Support
Different countries have different requirements, but the goal of global compliance and security is the same. In the US, the Office of Foreign Assets Control (OFAC) administers and enforces sanctions based on US foreign policy and national security goals. Similar regulations and sanctions are implemented in other countries around the globe, including:
- Canada — through the Office of the Superintendent of Financial Institutions
- United Kingdom (UK) — through the Bank of England
- European Union (EU) — through the Common and Foreign Security Policy (CFSP)
Global Sentry provides the tools needed for all corporations to comply with their country’s regulations, regardless of location.
Expanded Impact Group Identification
Unlike Anti Money Laundering requirements that only impact financial institutions, the requirements of the global compliance bodies impact us all, including:
- citizens and permanent residents
- persons and entities within a country
- incorporated entities and their foreign branches
- foreign subsidiaries owned or controlled by companies in those countries
- foreign persons in possession of country of origin goods
- banks
- bank holding companies
- non-bank subsidiaries
Certain industries by the very nature of their business — financial institutions, insurance companies, importers and exporters, travel related companies — are at greater risk for non-compliance. In support of these laws and sanctions, the various global governing bodies provide and update lists of individuals, organizations, and countries that companies should identify before executing or entering into any property or financial transactions. Global Sentry helps companies achieve the highest level of security, thereby protecting us all.
Automated Identification
Global Sentry automates the identification process by providing consolidated, structured, and
optimized watch-lists from the various countries. Robust matching and scoring algorithms handle variations in data supplied, while a knowledge base supplies an understanding of names across 120 cultures.
Providing Additional Compliance Value-add
- Pre-built data model for normalized storage of data elements and optimized querying
- Client SDK/Web services interface to integrate with Enterprise Applications for real-time response and action
- Centralized business rules, making it easier for analysts to create, maintain, and monitor rules and transactions without reliance on IT to embed and maintain these rules inside legacy banking applications
- Easily configured batch flows to process customer data against updates for pro-active monitoring and auditing
- Fast response times ensuring minimum impact on daily operations
- Optional subscription service providing additional matching against other watch-lists