The Name Search Check Process

Sentinel assesses the risk of an entity participating in money laundering, fraud and criminal acts. The entity, here after referred to as ‘the applicant’, is checked against a set of government and private data sources. A list of the data sources can be found by asking your Truth Technologies’ account manager. Identifying information about the applicant is compared against these data sources to determine if the Applicant poses a high risk of being involved in fraud, crime or terrorism. A risk level is then assigned for each data source check. Details about why an applicant received a particular risk level are available in Data Source Rules.

For certain data sources and users when a entity is screened before a risk status is assigned Sentinel compares the new entity results to old screens run by the same user to see if a new, duplicate or new data match occurs, see Appendix A for a list of risk levels. The comparison is based on a user’s preference to have the “New Data Alert” enabled, the unique ID of the source data and the last update date if available. See New Data Alert and Continuous Customer Monitoring for a list of data sources that use the New Data risk level and how the comparison is performed.

When an applicant is screened each available data source is assigned a Risk Result. The result is based on the data entered and on whether a user has chosen to use the “New Data Alert” function of Sentinel. See Risk Results for a list of all available risk levels. Risk levels are also prioritized and categorized. The highest risk level is first in all risk drop downs and aggregated reporting.

The applicant check process is initiated by logging into Sentinel and clicking the Applicant Checks -> Name Search menu item. This will bring up the Name Search screen. All data regarding an applicant should be entered into this screen. Required items are marked with a red asterisk (*). If a piece of information is required but not available enter ‘n/a’ in the required field. Click the Submit button when all data is entered.

Different types of Applicant data are collected: personal information and company information.

Open

The Name Search Results page lists each data source check and the associated risk level High, Medium, Low, or No Match Found.

Open

The data source question is listed on the left of the Name Search Results screen and the associated risk is listed on the right. Clicking on the data source question (on the left) will open a help file with details about how a data source works and what data is checked. Clicking on the associated risk (on the right) will bring up the Applicant Check Details screen. The Applicant Check Details screen lists what data was used to formulate the associated risk level for that particular data source.

Watch lists are negative checks. Watch lists check to be sure that applicant data does not match records in a data source. An example of a negative match data source is the OFAC data source. A match against the OFAC list indicates that an applicant may be involved in terrorism or drug trafficking. A low risk results from no match being found, therefore ‘No match found’ will be displayed as the result of this check.

Each applicant check detail screen contains five types of data, the data source name, the Result Type which indicates the risk level for the data source, the search type (Person, Entity, Address, etc), score and the records in the data source that the applicant matched against.

A ‘Low Risk’ results from no match being found, therefore ‘No Match Expected’, ‘No match found’ will be displayed.

A ‘High Risk’ result would list the data that was matched against.