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 |
|---|---|---|---|
| 07 MAR 2023 | 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 23.2.1 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.
- CIB Product Utilization Shift - Account Focus: A sudden change in transaction activity may be suspicious and warrant additional investigation. The large number of various types of transactions within an account, including funds transfers, checks presented, cash deposits, and so forth on a daily basis, makes it very difficult to detect changes or anomalies in account activity. The product monitors transaction activity and detects significant changes from the typical activity of an account. This scenario identifies accounts that may be considered to be at risk by monitoring for changes in the types of products that are utilized by the account (product utilization shift) among electronic funds transfers, checks, monetary instruments, cash, and journal transactions.
- Rapid Loading and Redemption of Stored Value Cards - Customer Focus: Stored Value Cards (SVCs) are pre-paid cash cards that can be used to send and access funds. These cards can be easily purchased at most financial institutions and numerous other locations with basic identifying information. Once the cards have been purchased, they can be sold and sent through the mailor given to other individuals. This flexibility makes Stored Value Cards an ideal mechanism for money laundering or Terrorist Financing. One technique used to launder money with Stored Value Cards is to repeatedly reload and redeem funds on one or more cards within a very short period of time. Using this technique, card holders can rapidly change beneficial ownership of assets, move assets across borders, and/or use dirty money to load the card(s) and get seemingly legitimate funds or other goods in return. This scenario is designed to monitor for this type of behavior by looking for patterns of reloads and redemptions on a single card or across multiple cards.
- Rapid Loading and Redemption of Stored Value Cards - Account Focus: Stored Value Cards (SVCs) are pre-paid cash cards that can be used to send and access funds. These cards can be easily purchased at most financial institutions and numerous other locations with basic identifying information. Once the cards have been purchased, they can be sold and sent through the mailor given to other individuals. This flexibility makes Stored Value Cards an ideal mechanism for money laundering or Terrorist Financing. One technique used to launder money with Stored Value Cards is to repeatedly reload and redeem funds on one or more cards within a very short period of time. Using this technique, card holders can rapidly change beneficial ownership of assets, move assets across borders, and/or use dirty money to load the card(s) and get seemingly legitimate funds or other goods in return. This scenario is designed to monitor for this type of behavior by looking for patterns of reloads and redemptions on a single card or across multiple cards.
New scenarios allows organizations to detect behaviors of interest.
Steps to Enable
You don't need to do anything to enable this feature.
Tips And Considerations
Copy the newly released scenario pipeline and attach it to the Scenario batch for the changes to be reflected.
Key Resources
Updates have been made to the following existing scenarios to provide greater clarity around threshold descriptions.
- Focal High Risk Entity - Customer Focus
- Patterns of Funds Transfers Between Internal Accounts and Customers - Customer Focus
Updated threshold descriptions provide greater clarity to how the threshold is intended to be used.
Steps to Enable
You don't need to do anything to enable this feature.
Tips And Considerations
- Copy the newly released scenario pipeline and attach it to the Scenario batch for the changes to be reflected.
- If the out of the box Pipeline and Batches are used, then no changes are required. However, if you have copied the pipeline, batch, or created Customized batches and provided new names for these pipelines and batches, you must repeat the steps to apply your custom configurations.
Key Resources
Functional Currency Pipeline Updates
This release provides updates to the following existing pipelines to allow functional currency information to be used in additional applications. This enhancement will be enabled in a future release, but you can begin populating data in these pipelines now to reduce effort when the feature is fully enabled.
- Load Account Data: Columns were added to the following fields in the FCC_ACCT_BAL table:
- N_NET_WRTH_FUNC_AM
- V_FUNC_CRNCY_CD
- Load Transaction Data and Derive External Entities and Risk: Columns were added to fields in the following tables:
- FCC_TRXN
- V_FUNC_CRNCY_CD
- N_TRXN_FUNC_AM
- FCC_ACCT_SMRY_DAILY
- V_FUNC_CRNCY_CD
- N_TRXN_CREDIT_FUNC_AMT
- N_TRXN_DEBIT_FUNC_AMTF
- FCC_ACCT_SMRY_MNTH
- V_FUNC_CRNCY_CD
- N_TRXN_CREDIT_FUNC_AM
- N_TRXN_DEBIT_FUNC_AMT
- N_TRXN_CREDIT_FRN_FUNC_AMT
- N_TRXN_DEBIT_FRN_FUNC_AMT
- N_TRXN_CREDIT_HRG_FUNC_AMT
- N_TRXN_DEBIT_HRG_FUNC_AMT
- FCC_ACCT_SMRY_MONTH_AUD
- V_FUNC_CRNCY_CD
- N_TRXN_CREDIT_FUNC_AMT
- N_TRXN_DEBIT_FUNC_AMT
- N_TRXN_CREDIT_FRN_FUNC_AMT
- N_TRXN_DEBIT_FRN_FUNC_AMT
- N_TRXN_CREDIT_HRG_FUNC_AMT
- N_TRXN_DEBIT_HRG_FUNC_AMT
- FCC_TRXN
Enabling Functional Currency allows organizations to view additional transaction information, providing greater insight into their investigations.
Steps to Enable
- Copy the new version of the pipeline and create a new Job using similar naming conventions.
- Attach the newly created job to the existing Ingestion batch task for the changes to be reflected.
- If the out of the box Pipeline and Batches are used, then no changes are required. However, if you have copied the pipeline, batch, or created Customized batches and provided new names for these pipelines and batches, you must repeat the steps to apply your custom configurations.
Key Resources
This release provides updates to the Load Account Group Data and Load and Prepare Watchlists pipelines.
Updated pipelines provide better performance.
Steps to Enable
- Copy the new version of the pipeline and create a new Job using similar naming conventions.
- Attach the newly created job to the existing Ingestion batch task for the changes to be reflected.
-
If the out of the box Pipeline and Batches are used, then no changes are required. However, if you have copied the pipeline, batch, or created Customized batches and provided new names for these pipelines and batches, you must repeat the steps to apply your custom configurations.
Key Resources
System Configuration Migration
The System Configuration Migration feature enables system configurations (such as jurisdictions, business domains, case types, user groups, security mappings, and so on) to be migrated between different environments, like UAT and PROD. This functionality reduces the manual work required when deploying and increases deployment efficiency.
Automating the migration of system parameters reduces the risk of human error and increases efficiency when configuring multiple environments.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
The Admin Audit History enables an audit trail for all administrator operations to help meet regulatory requirements and assist with system troubleshooting. You can track what field changed, what it changed from and to, who did it, and when.
Providing an audit trail for administration and system configuration activities helps institutions meet regulatory requirements and assists with system troubleshooting.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Increased Coverage for Multi-Dimensional Risk Scoring
KYC Cloud Service (KYC CS) now supports behavioral-based risk factors derived from a customer’s transactional activity across products and channels. These behavioral risk factors can be used as part of the business check and Algorithm-based risk scoring models for daily batch processing.
A new pipeline type, KYC Risk Factor, has been introduced to configure KYC transaction-based risk factors. A set of transaction-based risk factors is provided out of the box in this release.
A new Behavioral Risk Indicator UI allows users to map various transaction-based risk factors in the KYC module that can be used in business check and Algorithm-based risk scoring models.
The following Transaction Based Risk Factors are available out of the box in this release:
- Credit Txn Amount in last Twelve months
- Debit Txn Amount in last Twelve months
- Total Cash Txn Amount in last Twelve months
- Total Cash Txn Count in last Twelve months
- Credit Txn Count in last Twelve months
- Debit Txn Count in last Twelve months
Considering behavioral-based risk factors better allows organizations to detect behaviors of interest.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
KYC CS has been enhanced in this release to allow Prospect risk assessments to be exported and provides the ability to configure how many risk assessments can be exported at once.
Upgrades have been made to the user interface for better performance and stability.
An improved UI that exports additional information makes investigating customers and prospects easier.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Batch Screening Case Suppression
When a Realtime (RT) Screening is done against a prospective customer and the same customer is onboarded and sent to Batch screening at the end of the day, two cases are generated if there is a match against the customer. This requires the analyst to spend time and effort to close both the RT CS case and Batch CS Case against the same customer. The new enhancement suppresses the Batch alert for a customer with a Real-time Screening alert already created during onboarding. When a new customer is onboarding, the corresponding Source Request ID is provided in the RT User Interface (UI). The suppression of alerts of the customer continues unless there is a change in the watchlist or customer data. A change in any of the attributes will trigger a re-alert.
Note: If a batch is executed the next day, then the RT cases are checked, and batch screening is suppressed if the case is already generated.
Suppressing these duplicate cases prevents investigators from re-investigating the customer who was already investigated.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Customer Screening has introduced several UI and UX enhancements, including pagination, to simplify navigation between results. A new Match Summary table is introduced to provide a summary of matched results. The Relationship tab now displays real-time cases in addition to batch cases. Watchlist Details can be viewed by clicking the Skey number in the Matched Results, Matched table results can be filtered, and parameter and case searching have been enhanced to include the Source Request ID.
An improved UI that displays additional information makes screening customers easier.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
This release provides updates to the Load Transaction Data and Derive External Entities and Risk pipeline. A new column, V_PARTY_ID_CLASS, has been added to the FCC_TRXN_PARTY and FCC_RR_TRXN_PARTY tables. You must populate this column in the STG_FRONT_OFFICE_TXN_PARTY table.
Updated pipelines provide better performance and increased functionality.
Steps to Enable
- Copy the new version of the pipeline and create a new Job using similar naming conventions.
- Attach the newly created job to the copied PHCTRDataLoad Batch for the changes to be reflected.
-
If the out of the box Pipeline and Batches are used, then no changes are required. However, if you have copied the pipeline, batch, or created Customized batches and provided new names for these pipelines and batches, you must repeat the steps to apply your custom configurations.
Key Resources
Oracle's Regulatory Reporting Cloud Services (RR CS) has added the XSD Validation Details tab, which allows users to validate report formats and details against the XSD (XML Schema Definition) files. If there are any errors related to XSD, those errors will be listed in the XSD Validation Details tab.
This feature helps avoid E-Files being rejected from the FinCEN E-File System due to errors during submission.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
A new document management system has been implemented for better performance and increased security. In addition, the following updates were made:
- A new Notification feature helps users to view the list of rejected reports submitted for approval and take further action.
- Users can now prepare and load customer-seeded data through the Admin UI.
- The USSAR Application meets accessibility requirements.
Investigators can view additional information within the current report, enhancing their ability to accurately disposition the case. Accessibility updates allow differently-abled users to navigate the application easily.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources