Group 1 Software’s Global Sentry automates the identification process by providing consolidated, structured, and optimized watch lists from various countries. Matching and scoring algorithms handle variations in data supplied, while a knowledgebase supplies an understanding of names across 120 cultures. Global Sentry can also be extended to any external or internal fraud database.
Featuring a flexible rules-based matching engine, Global Sentry gives control and visibility for business analysts and compliance officers to modify rules to meet the needs of their organization without requiring any development effort. Aided by Group 1 Software’s field-proven Customer Data Quality (CDQ) Platform, Global Sentry provides pre-configured and optimized rules for matching against the normalized and consolidated watch lists from OFAC, the Office of the Superintendent of Financial Institutions (OSFI) in Canada, the European Union, and the Bank of England.
Jay Bourland, vice president and general manager of customer data quality and data integration for Group 1 Software, said: Around the world, governing bodies are becoming ever more vigilant in monitoring the movement of funds associated with known criminals, including terrorists and drug traffickers, among others.
As part of these efforts, governments are cracking down on companies who do business with designated countries, individuals and organizations on published watch lists. Failure to compare customer information against these watch lists can lead to public embarrassment, damage to brand equity, significant fines, and lawsuits.
