This document will continue to evolve as existing sections change and new information is added. All updates appear in the following table:
| Date | Module | Feature | Notes |
|---|---|---|---|
| 01 DEC 2022 | Transaction Monitoring | Data Pipeline Enhancements | Updated document. Revised feature information. |
| 01 DEC 2022 | Customer Screening | US 314a | Updated document. Revised feature information. |
| 22 NOV 2022 | Created initial document. |
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Column Definitions:
Report = New or modified, Oracle-delivered, ready to run reports.
UI or Process-Based: Small Scale = These UI or process-based features are typically comprised of minor field, validation, or program changes. Therefore, the potential impact to users is minimal.
UI or Process-Based: Larger Scale* = These UI or process-based features have more complex designs. Therefore, the potential impact to users is higher.
Features Delivered Disabled = Action is needed BEFORE these features can be used by END USERS. These features are delivered disabled and you choose if and when to enable them. For example, a) new or expanded BI subject areas need to first be incorporated into reports, b) Integration is required to utilize new web services, or c) features must be assigned to user roles before they can be accessed.
| Ready for Use by End Users Reports plus Small Scale UI or Process-Based new features will have minimal user impact after an update. Therefore, customer acceptance testing should focus on the Larger Scale UI or Process-Based* new features. |
Customer Must Take Action before Use by End Users Not disruptive as action is required to make these features ready to use. As you selectively choose to leverage, you set your test and roll out timing. |
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|---|---|---|---|---|---|---|
| Feature |
Report |
UI or |
UI or |
|
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Financial Crime and Compliance Management
This document provides the high-level enhancements for Release 22.11.1 of Oracle FCCM Cloud Service. For more information about this product, see Documentation. Fixed issues and considerations can be found at MOS.
New scenarios have been added to allow organizations to better detect behaviors of interest.
These scenarios monitor a sudden increase in the amount of Bank/Debit cards withdrawals at ATMs that may indicate money laundering, terrorist financing, or an account takeover. Scenarios generate alert if there is an increase in activity compared to the daily historic bank card withdrawal transactions at ATMs for a specified Lookback Period:
- Anomalies in ATM, Bank Card: Excessive Withdrawals - Account Focus
- Anomalies in ATM, Bank Card: Excessive Withdrawals - Customer Focus
This scenario detects instances of large cash deposits or withdrawals and detects smaller, multiple deposits or withdrawals over a specified Lookback Period that aggregate to a significant amount.
- Single or Multiple Cash Transactions: Large Significant Transactions - Customer Focus
This scenario monitors all transactions to and from high-risk entities during a specified Lookback Period.
- High Risk Transactions: Focal High Risk Entity - Account Focus
Business Benefit:
New scenarios allows organizations to detect behaviors of interest.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Integration with Customer Screening Cloud Service
Transaction Monitoring Cloud Service can be configured to read customer watchlist scores from either Private Watchlists fed through staging watchlist tables, or External Watchlists through integration with Customer Screening Cloud Services.
For organizations that deploy both Oracle FCCM TM Cloud Service and CS Cloud Service, this integration means you do not need to upload the external watchlist separately for TM Cloud Service for risk score assessment purposes.
Business Benefit:
Integration with Customer Screening Cloud Services simplifies watchlist screening and enhances transaction monitoring.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
The Load Customer Data, Load Account Data, and Load Transaction Data and Derive External Entities and Risk data pipelines were updated to handle null exceptions during risk calculations better. This update helps to avoid data ingestion failures by replacing Null values for risk fields in the appropriate staging tables with 0.
The Load Customer Additional Data and Load Additional Account Data pipelines were updated to ignore duplicate records if there is no change to the customer/account address.
Business Benefit:
These data pipeline enhancements help avoid data ingestion failures and duplicate records.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Continuing Activity Investigations
Case Manager has been enhanced to support US Continuing Activity (CA) investigations and reporting. Administrators can create rules to automatically create Continuing Activity investigations (cases) for the same Primary Entity when closing a case where a SAR is required. New events generated on these entities will be directed to these CA cases, or to new cases. This leaves no gap or risk of missing events between investigations.
When creating a CA case, users can select customers, external entities, and accounts which they consider as relevant from current case to pass onto the newly created CA case. This significantly reduces the manual effort to re-add the subjects.
In-built integration with FCCM's Compliance Regulatory Reporting Cloud Services (CRR CS), allows investigators to view a summary of prior SARs of previous case to help them conduct the current investigation.
Business Benefit:
Automatically generating Continuing Activity cases linked to the Primary Entity of a SARed case helps investigators save time while ensuring that no events are missed. Being able to review previous cases and SARs informs the investigator throughout their analysis.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Notifications are automatically sent to the Case Assignee when specific actions or situations occur on a case. Users can navigate directly to the relevant cases from the notifications.
In 22.11.1, notifications are generated for the following situations:
- When a case is assigned to a user.
- When correlation has added subjects to an assigned case.
- When an assigned case is overdue.
Notifications that have been read will be deleted after 7 days to keep the notification list relevant. Administrators can configure this period to meet their needs.
Business Benefit:
Being able to quickly see important changes to your cases provides investigators greater understanding of the investigations they are working.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
A new "Due In" filter has been added to allow searches and customized case views for cases which are due in the selected number of days.
Business Benefit:
Filtering by Due In allows investigators to prioritize their investigations effectively.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
The user interface has been updated to improve user experience and display accented characters correctly. This release also introduces an Identification & Verification tab, which displays costumer identification documents currently held by the organization. The Case Due Date field now displays in the time zone set by the user.
Business Benefit:
An improved UI which displays additional information makes investigating cases easier.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Oracle's Customer Screening Cloud Service (Customer Screening CS) has implemented US 314a regulatory requirements within the out-of-the-box configuration and batches.
This allows organizations to meet regulatory requirements through:
- Creating a private watchlist for 314a
- Scanning their existing customer lists against the 314a watchlist.
- Viewing 314a-specific alerts in Case Manager
- Investigating individual cases using Case Manager
The following pipelines were created to support this feature:
- Individual 314 A Batch Screening
- Entity 314 A Batch Screening
The following batches were created to support this feature:
- Individual314aScreening
- Entity314aScreening
Business Benefit:
Enhanced regulatory support.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Real-Time Search and Filter Enhancements
The Search and Filter functionalities have been redesigned to allow entities and individuals to be screened without requiring case creation, and to provide a clear view of Advanced Search parameters.
Business Benefit:
Save time and reduce waste with Real-Time Search and Filter Enhancements.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
KYC Cloud Service (KYC CS) now supports automated risk assessment for customers based on any case action (such as an AML case closed as True Positive) or regulatory report filing (SAR/STR/CTR). This brings additional key capabilities for continuous monitoring and KYC risk assessment to the existing change log-based ARR trigger.
As part of Accelerated Re-review (ARR) based KYC risk assessments, new capabilities are added:
- Trigger risk assessment based on Case Action for various case types
- Configure an ARR rule with these parameters:
- Rule Name (for example, “Suspicious AML Cases”)
- Case Type (for example, AML)
- Primary Entity (associated with the case type
- Count of case to be considered
- Case Status (for example, case closed as True Positive)
- Case Reason (if applicable for the case type)
- Trigger risk assessments based on any regulatory report filing for particular jurisdiction
- Configure an ARR rule with these parameters:
- Rule Name (for example, “Unusual SAR Filing”)
- Report Type (for example, SAR/STR/CTR)
- Focus entity
- Count of reports to be considered
- Count of cases or regulatory reports considered between current batch and last batch run date
Detailed evidence for the ARR trigger is displayed as part of KYC Batch Cases.
Business Benefit:
Triggering Risk Assessments based on actions or report filing ensures that customers and prospects are receiving continuous monitoring, and the organization has relevant and updated risk information .
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Automated Case Creation from Risk Category Changes
KYC Batch cases are now automatically generated when there is a change in a customer's KYC risk category. KYC CS compares the current KYC Risk Category with the last KYC Risk Category, and generates a case based on your defined settings. This feature is in addition to the existing logic for KYC case creation, where a KYC Batch case is created if the KYC risk score breaches the defined threshold score for case creation.
The case generation logic is completely configurable. Administrators can configure for a case to be generated whether the new KYC Risk Category is higher, lower, or if there is any change compared to the customer's last KYC Risk Category.
This feature is optional.
Business Benefit:
This feature allows organizations to create and investigate KYC cases for those risky customers whose KYC risk category changes over time, but their KYC risk score does not breach the defined threshold score for KYC case creation.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
KYC Batch cases now display the Entities tab from Case Manager, which provides detailed information about the primary customer and interested parties associated with this case. Clicking the Party ID displays the complete party details and other associated information.
Business Benefit:
Viewing the details for the Primary Customer and Interested Parties from within the case quickly provides investigators with essential information.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Oracle's Regulatory Reporting Cloud Services (RR CS) has enhanced US SAR reporting by integrating with Case Manger provide Continuing Activity cases and report information within both products. Process Modelling Framework workflows can now be edited from within the US SAR user interface. The UI has been enhanced to optimize the end-user experience and improve performance in the US SAR application.
Business Benefit:
Being able to view Continuing Activity report information within Case Manager provides critical insight required by investigators.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources