GEB SDN is an advanced tool for complying with the regulations and recommendations of the Supervisory Bodies for the prevention of money laundering and financing of terrorism. The tool facilitates effectively the detection of names in special designation lists (official sanction lists, lists of PRP’s and the entity’s own lists).
These lists are increasingly numerous and include more entries that must be analyzed. Moreover, there are complexities inherent to the problem: aliases, synonyms of names in different languages, typographical errors, phonetic transcriptions…. The processes that make up the GEB SDN solution solve the problem effectively for the immediate monitoring of new detections that may arise with the incorporations and modifications of said lists.
- GEB SDN has an easily integrated online module within the most dynamic processes of financial institutions, such as the customer registration process and operational monitoring.
- GEB SDN automatically incorporates the content of the designated controlled lists communicating with the publication addresses of those and downloading the updates that are produced over time.
- GEB SDN performs SDN lists searches with an advanced fuzzy logic algorithm that finds names by similarity, avoiding search failures due to misspellings, erroneous phonetic transcriptions, idiomatic variations of names, alias considerations, etc.
- GEB SDN effectively reduces false positives by taking advantage of the contextual information that accompanies the entry records of people from SDN lists and customers.
- GEB SDN has a graphical interface for analyzing detections found by grouping them in files to facilitate the comprehensive study of the entity’s clients and storing and control of all investigations carried out.
- GEB SDN provides analysts all available information of the people detected, including images and external links of information about them.
- GEB SDN has an advanced and flexible workflow that enables the implementation of centralized or decentralized records management by several checking teams, allowing safe control and revision techniques, such as double checking.
- GEB SDN provides analyst dashboards and reports for all the automatic control and audit processes of the tool operation. Including the audit of all user´s actions for the exhaustive control of reports generation.
Input of information and required data.
GEB SDN provides a centralization of the information when placing in the same repository:
- Customer data.
- Integration with Factiva Down Jones list.
- Integration with EU list, OFAC, UN and other sanctions lists through Factiva.
- Integration with the entity´s own lists which can be maintained directly through the tool.
The loading and maintenance of updated sanctions and PRPs lists are automatically processed by Internet connection with the account of the entity in Factiva with a daily load in working days and a full load at the beginning of the month.
The detection is made by similarities. The problem of recognizing people in lists lies in the disparity of the forms of the data to be compared. The person-customer has standardized information and documentary support that can be considered reliable. On the other hand, the lists accumulate multiform data with significant deficiencies, especially in the case of sanctioned lists, in which their components have as their main objective to go unnoticed or to be confused behind a host of false identification documents.
Therefore, detections are the result of analysis processes that take into consideration these circumstances, both the lack of information and the multiplicity of information. The analysis process uses the name and surname, identification document, date of birth, country of birth, country of residence, etc. as customer information. and is capable of:
- Recognize variations in names that may be the result of spelling or typographical errors as well as phonetic variations.
- Recognize variations produced by rearrangements of name parts; or other usual variations.
- Identify similar identity documents.
- Deal with aliases or synonyms.
- Recognize names.
The process of detection in lists is automatic. Both for lists of sanctioned and PRPs. It has two modalities:
- BATCH process. Analysis of similarities and detection of possible Terrorists / PRPs.
- Weekly global checking.
- Daily incremental checking.
- ON-LINE process through WebService SDNCHECK WS.
The information obtained by GEB SDN allows to update changes in the Client Sheet in HOST:
- Sanctioned IDs/PRPs. The detections marked as coincidences by the analyst will be transmitted to the HOST so that the entity can keep the client’s knowledge updated.
- Clients who have concluded their status as Sanctioned/PRP. The closed files unmarking the sanctioned condition/PRP of the client are also transmitted to the HOST so that the entity can keep the customer’s knowledge up-to-date.
Management of detection files.
The detections are managed through files within the GEB SDN site. The detection of people in lists has an automatic component but, the final decision requires human supervision, due to the particularities of the data contained in the lists and the objective of concealment of the sanctioned persons, the identity recognition algorithm cannot be deterministic. The main features and functions include:
- Automatic file opening for detections found
- Emphasis on the relevant information in the file:
- Type of person SDN: Sanctioned/PRP.
- Information of the PRP person: country of jurisdiction, position and all contextual information contained within the list including known images and links to external information.
- Client information: All information imported from the host belonging to the client, including suspicious operational grade evaluated by ROS.
- Decision on a detection through the file:
- Collects and presents all the detection information both, of the client and the SDN person.
- Closing of the file resolving the identification or not of the detection.
- Manual opening of records for non-clients of the entity.
- File oriented to Client:
- Closing of file with closure of all detections linked through customer or through SDN person.
- It gathers all the detections about the client and allows access to the file history.
- It facilitates access to uncovered detections and individualized management.
- Update of open files after each analysis.
- Consider the last degrees of similarity obtained.
- Prioritizes the highlighted detection, with greater risk.
The GEB SDN site allows to carry out real-time approximate searches of the entire Factiva list and to weigh the results based on the degree of resemblance of the values entered, then presents the results and allows access to all the details of the SDN Persons.
GEB SDN has a series of main views:
- System: From this screen you can monitor the general operation of the system.
- Agency / Office: show the statistics according to the agency / office selected by the user.
- General: shows the general statistics of the system without taking into account any filter.
- User: shows the statistics according to the user selected by the administrator making the query.
Online search technical characteristics:
It is a scalable solution and quick response (stress tests a yield of about 120 requests per second).
SDNCHECK WS requires the installation of the alert engine (GEB SDN of the AML SIOPEIA GEB platform) as well as a Java EE application server to install the service (WebLogic, WebSphere, Tomcat).
SDNCHECK WS can work in high availability environments integrating perfectly with typical elements in these types of environments such as:
- Distributes the requests load among the application servers.
- Application servers. Each server can have several instances of SDNCHECK WS. This configuration allows for greater scalability and performance.
- Different databases. Database access only takes place at the initialization and data refresh of SDNCHECK WS. This allows a greater performance.