Sentinel uses SSL encryption to ensure that all data transmitted to or from Sentinel is encrypted and safe. This is the same type of encryption used by major web sites to protect credit card and other personal financial information.
Sentinel operates in two modes, logging and no logging. The default is logging, which means that we store all information submitted as part of a search and the results of the search. This is the default because the USA Patriot Act requires that you keep a log of all compliance checks run on potential customers. In the European Union we are not allowed to keep this information so we also have the option of running in no log mode. In this mode customer information is kept in memory only long enough to check the applicant and return the results to you. This method is consistent with European Union privacy rules and ensures that no customer data exists on our servers. If you are unsure which logging mode your account uses contact customer support.
During the account set up process TTI will work with you to determine how to configure your Sentinel accounts to best meet your AML goals. You can also review our case studies to see how other organizations have structured their AML programs using Sentinel.
Our results are listed as High, Medium or Low Risk because we want you to understand that although Sentinel is an industry leading compliance tool, name and address matching are difficult problems and no tool is perfect. Problems arise due to the fact that a name is not unique, i.e. there are hundreds of John Smiths in the world, and just because your customer is named John Smith does not mean he is the same John Smith on the watch list.
If you receive a low risk, or No Match Found, you can be assured that no further action is required. If you receive a Medium or High risk you should review the result details to determine if the applicant in question is indeed the person that Sentinel matched them against.
Sentinel pricing is based on the Version of Sentinel you are using as well as the number of monthly transactions you use. Please fill our request a quote form for detailed pricing information.
Sentinel can be deployed as a turnkey application inside your institution. Please contact us for more information on this option.
Yes Sentinel supports the 314(a) list. TTI can not obtain the list directly from FinCEN but Sentinel allows you to upload the list and screen your customers against it. This screening can be included as part of an existing screening process or a separate process.
New data sources can easily be added to Sentinel, usually in about 3 weeks. Please contact us with the name of the data source you would like added and we will confirm that the data can be added.
A new release of Sentinel is comes out on a quarterly basis. We are always looking for new features to add to make Sentinel the best product available. Please contact us with your request and we will let you know if it can be incorporated.
The World-Check data base contains information on over 600,000 individuals and corporations including Politically Exposed Persons (PEPs), persons involved in finical crime, and data from over 400 government watch lists. Over 2,000 institutions, including 45 of the world’s 50 largest financial institutions and hundreds of government agencies, rely on the World-Check database of known heightened-risk individuals and businesses to efficiently screen their customers, associates, transactions and employees for potential risk. World-Check spends a considerable amount of time and money ensuring this data is timely and accurate and as such an additional usage fee applies.
Re-screening, or monitoring, customers against changes in a Sanction list is a vital part of any compliance program. Re-screening can be done in one of two ways: periodically you can submit your entire customer list to be checked against the current copy of the Sanction list, or you can have your entire customer list automatically checked when ever the Sanction list changes. Sentinel supports both methods of re-screening. For a more complete discussion of the pros and cons of each method see the Customer Monitoring page in the resource section of our site.