The GCS Transaction Monitoring and Filtering Program

compliance graphic 400x245

The Program includes the following elements:

  1. Customer Identification, using all available information to accurately determine if the customer has sent money previously.
  2. Data Integrity (ensure data is not obviously wrong), including bad character detection, semi address validation, id number format, phone formatting, etc.
  3. Aggregation and visit counts of identified customers and their transactions, across hours, days, months, or years.
  4. Screening against various global lists, including: Australian DFAT, Bank of England, Canadian OSFI Consolidated, EU Consolidated, FATF AMLD, French, Hong Kong Monetary Authority, Irish Financial Services Regulatory Authority, Monetary Authority of Singapore, NS-PLC, OFAC SDN & Blocked Persons, UN Consolidated.
  5. Localized business rules based on compliance regulations. These rules are customizable based on your assessment of your company's needs.
  6. Link analysis to identify structured transactions.
  7. Risk Scores, based on analysis of customer and agent historical information, current geo-political realities, and artificial intelligence.
  8. Real-Time Risk Assessments based on the above Risk Scores, applied using Business Rules.

Real Time Monitoring Provides Actionable Intelligence

The Program does most of the above functions in real-time.  Most inappropriate transactions are flagged at the point of sale (with obvious exceptions such as the initial structured transactions in a set of structured transactions).  In addition, GCS uses AI to continuously monitor and risk-score individuals, groups, companies, corridors, agents, and others, to enhance due diligence processes.

Ongoing Customer Support

GCS also provides the following:

  1. Audit support to individual companies during annual audits by regulators and law enforcement.
  2. Rapid software and rule modifications in response to changes in regulations, whether from legislation or revised judicial interpretation.
  3. Golden Test Data to test veracity of matching algorithms, fraud detection, structured analysis, etc.

How We Integrate with Your Wire System 

GCS uses a simple and powerful real-time JSON interface to link with wire systems.

A wire system sends transaction data to GCS and GCS sends back universal customer ID's, aggregation amounts, warning flags, hold flags, etc. Typical latencies from receipt to response are sub-second.

Beyond this basic command, there are many other commands that the JSON interface provides. These commands allow your system to query for relevant records, update agent information, insert new business rules, and more. This interface is indeed the primary means to communicate with the GCS Program (even the Web page interfaces go through it – sometimes dynamically).

We make it easy for you. We maintain the hardware and software. We have redundant sites, spread around the country and the globe.* We perform the required backups. Our servers are housed in well known, well protected data centers. Communications involving PPI use industry standard security protocols. We pay for the required software, databases, rack space, security, etc. You have a single, budgeted expense. If you need specialized features, we have the staff to handle your requirements.

 diagram of the major parts of the Program and a connected wire system

 

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* Not all features discussed are currently production ready.  Please see the product road map (under NDA) for anticipated release dates of specific features.