Archiving is a Requirement

Under existing regulations (SYSC 9.1) keeping an archive of Critical Business Information for 5 years is mandatory. This is generally taken to mean email, files, Instant message chats. The Regulator expects that a firm, of any size, should be able to produce any relevant information within 24 hours.

Archiving is not simple

Correctly archiving email means that all communications are captured. That comprises ALL email received and email sent both internally and externally. The only practical way to do this is by journaling all email to another system.

Archiving is much more than not deleting.

Taking a rolling backup of data in the file system is not the same as a point in time archive that needs to be kept for 5 years. Archiving Instant Messages requires another level of technology

Voice Recording requirements are radically changing.

Until January 2018 Voice recording is only required as part of a Customer Transaction and currently the recordings only need to be kept for 6 months. After January 2018 pretty much all Voice Calls to do with a Transaction will have to be recorded and kept for 5 years. That’s all voice, be it Desk Phone, Mobile Phone, Voice over IP (VoIP) or Video Conference.

Storing Data is not enough

Capturing all the data is a good start but without the ability to curate the data store it’s useless. Archiving allows for a targeted retrieval of data on more than a “I think I saved it on that day” basis. Also staff have many identities as far as communications goes. They have their email address, their network login, their IM handle, their linked in account, their land line and mobile telephone numbers. Ensuring that these are tied together is a non trivial task.

Curating the Archive is important

Data need only be archived for the required period. This may not be that simple given the different types of data there are. Regulatory, Legal, Transactional, HR and Customer Classification may all have different retention periods. Also without some form of Meta information a firm could inadvertently give away information to a 3rd party that id did not have to.

Securing the Archive

Data is important to any firm and it is important that it’s protected. With GPDR upping the game significantly when it comes to potential fines, it’s becoming essential that the entire lifecycle of data is protected. Archives need to be secure both physically and in terms of access. It’s important that data is always kept encrypted and any access to it is logged and audited.

Accessing the Archive

5 years ago the default office suite was MS Office 2007 or 2010 if you were pushing it. So it’s likely that you would be able to open an archived file in office 365 you had to. However could you actually access the Archive if it was stored on Enterprise Vault 6 and the latest product is 13?. If your archive was on an LTO Ultrium tape drive could you work out how to restore it? Have you even checked that the 5 year old tape is still readable and hasn’t degraded?

IP Sentinel Fingerprint Service

The fingerprint service collects important business data from your organisation, stores it safely, connects the user accounts together and provides the ability to search the entire archive from one place.

The results are presented in summary with the ability to drill down to the detailed data point and ultimately to the original record, email, Bloomberg message, voice call, web access log etc etc

Suspicious Activity Alerts can be configured to alert supervision staff if anything untoward is included in emails. There is a default list of terms that can be modified to suit

Responsive image

IP Sentinel can also provide a Fully Monitored supervision service that allows you to outsource the entire monitoring burden to our compliance experts. There is a herd immunity that comes from being part of a wider supervision service.

All the alerts and warnings are managed in a single dashboard and can be progressed through a series of defined workflow steps to provide an audit of any actions taken by the firm in regards the supervision undertaken.

Watch lists and Restricted lists can be created that will report on any activity in regard to specific items in electronic communications

Email

Journal email from your server to our cloud host

Details »

Bloomberg

Ingest your Bloomberg from the BCOMPLIANCE function

Details »

Voice

Regular Download of Voice files from VoIP system or call recorder

Details »

Power of ElasticSearch

Core search and alerting performed on our dedicated ElasticSearch Cluster

Details »

Our workflow

Up and running within a couple of days

Contracts

Put all the paperwork in place

More info Step 1
1 Day

Set Up

Configure the Fingerprint system with your information

More info Step 2
1 Day

Configuration

Point your email at our Servers, Set up SFTP for Bloomberg & Voice traffic

More info Step 3
3 Days

Contact Us

Please get in touch

IP Sentinel Services Ltd
Newnhams Wood
Birch Grove Road
Horsted Keynes
West Sussex, RH17 7BT
P:+44 (0) 1825741870
Send us mail

Or follow us on social platform