Global Compliance is a Luxembourg based company providing hosted Software-as-a-Service (SaaS) Anti-Money Laundering solutions to clients around the globe.
These clients are serviced out data centers in Washington, DC, the Cayman Islands, and soon out of Luxembourg. Global Compliance's flagship product, Sentinel, is
known as Know-Your-Customer (KYC) software, a subset of a financial institution's overall Anti-Money Laundering (AML) compliance program. Increasingly, this is
becoming part of Governance, Regulatory, and Compliance - a larger area of concern within large corporations. Sentinel software helps a financial institution's
compliance officer answer the question: Is this person (or entity) who they say they are, and should I be doing business with them? Primarily is this of concern
for adherence to the USA Patriot Act, the EU 3rd AML Directive, the Foreign Corrupt Practices Act, the UK Bribery Act, and many others. Most AML legislation stems
from the Financial Action Task Force (FATF)'s 40 recommendations. This common basis provides a consistent level of required actions across jurisdictions - making
a product like Sentinel possible.
Sentinel is being enhanced to extend monitoring from the legal and physical world into the cyber world. Enhancements are currently in R&D and details will be avilable
- Mitigate risk associated with money laundering and terrorist financing;
- Quick and easy remediation of matches due to uniquely structured data;
- Data covers the full definition of PEPs, including family, front men, associates and business relationships;
- Allows for regular risk screening of new and existing customers, vendors, employees, associates, payments, etc.;
- Screen all existing customers quickly using automated customer on-boarding and batch processing;
- Verify that existing customers have not been added to a sanction list using continuous customer monitoring;
- Reduce matches target compliance resources by customizing screening processes to use specific "slices" of data;
- Proof of due diligence provided by a full audit log;
- Data sources updated daily.