Release 24.2.1
Revision History
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 |
|---|---|---|---|
| 06 MAR 2024 | Created initial document. |
Overview
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Feature Summary
Column Definitions:
Features Delivered Enabled
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. |
Action is Needed 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 24.2.1 of Oracle FCCM Cloud Service. For more information about this product, see product Documentation. Known Issues and Maintenance Pack information can be found at MOS.
Transaction Monitoring
Data Extraction API Pipelines
This release allows you to create Data Extraction API pipelines, which build queries to extract data from your FCCM cloud implementation. Using the Query Builder, you can define views and expose the final results as REST APIs for downloading the results as JSON
Creating and using APIs to extract data allows Oracle clients transparency into their data within FCCM CS.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Right to Forget
A new batch, FCCRTFDataLoadUtility, enables you to redact Personal Identifying Information (PII) from the user interface.
Executing this batch allows you to comply with General Data Protection Regulation (GDPR) regulations.
Steps to Enable
Before executing this batch, you must update the FCC_RTF_SQL_QUERY table to provide the Customer Internal ID and other relevant details for the customers who require redaction in the correct format. Follow the steps in Executing the FCCRTFDataLoadUtility Batch before executing this batch.
Key Resources
Updated Scenarios
The following existing scenarios have been updated so that it is possible to choose on which Transaction Type the monitoring will be performed via a filter. The exact transaction types available for each scenario can be found in the Transaction Monitoring Technical Scenario Descriptions.
- Anomalies in ATM Bank Card - Excessive Withdrawals - Account Focus
- Anomalies in ATM Bank Card - Excessive Withdrawals - Customer Focus
- Anomalies in ATM Bank Card - Foreign Transactions - Account Focus
- Anomalies in ATM Bank Card - Foreign Transactions - Customer Focus
- Focal High Risk Entity - Customer Focus
- Focal High Risk Entity - External Entity Focus
- High Risk Counter Party - External Entity Focus
- High Risk Geography - Account Focus
- High Risk Geography - External Entity Focus
- Insurance Policies with Refunds - Customer Focus
- Large Reportable Transactions - External Entity Focus
- Patterns of Funds Transfers Between Internal Accounts and Customers - Customer Focus
- Possible Currency Transaction Report - Customer Focus
- Possible Currency Transaction Report - External Entity Focus
- Rapid Loading and Redemption of Stored Value Cards - Account Focus
- Rapid Loading and Redemption of Stored Value Cards - Customer Focus
- Single or Multiple Cash Transactions - Large Significant Transactions - Customer Focus
- Structuring - Avoidance of Reporting Thresholds - Account Focus
- Structuring - Avoidance of Reporting Thresholds - Customer Focus
- Structuring - Potential Structuring in Cash and Equivalents - Customer Focus
- Transactions in Round Amounts - Account Focus
- Transactions in Round Amounts EFT - External Entity Focus
- Transactions in Round Amounts MI - External Entity Focus
Increased granularity allows organizations to better detect behaviors of interest.
Steps to Enable
Copy the updated scenario pipeline and attach it to the existing TMScenario batch for the changes to be reflected.
Key Resources
Integrating with Third-Party Case Management Systems
New batches were created to support integration with third-party case management systems by providing a means to extract evented data which can be loaded into an external system.
- Curated CM Batch: AMLToCMEventData
- CSV Generation batch: TMCS_CSV_Export
- Purge Batch: PurgeAMLToCMEventDataCSV
- A new pipeline has been added to support this batch • Clean AML to CM Event Data
The following sample data pipelines have been added to help customers understand how to use this feature to create the .csv file with the data required by their case management system:
- Evented Customer Details
- Evented Customer Details - Two Tables Join
This ensures that events created during Transaction Monitoring can be dispositioned in your external case management system.
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 appropriate existing batch for the changes to be reflected.
Key Resources
Data Model Updates
This release supports data model updates. All new implementations must provide data in accordance with these sample templates. New customers must take care to use the guidance provided in (data model sheet). Additionally, new customers must set the Version parameter value of the AMLDataLoad Batch to 8124.
For existing FCCM CS customers, we continue to support the data model of the previous version (23.11.1) in order to avoid disrupting existing processes. In this release, Data Loading via Object Storage supports two versions of the data model -- the latest version (24.2.1) and the previous version (23.11.1). Existing customers should plan to migrate to the latest version as soon as possible. Once migrated to the latest version, existing customers can use the steps given in the AMLDataLoad Batch Details to switch the data version to the latest.
As of 24.2.1, the default for existing customers is 808.On-premise customers migrating into FCCM CS must provide data in accordance with the latest sample templates, which are compatible with on-premise FCCM BD application release 8.1.2.6, which is based on FSDF 8.1.2.4. If you are migrating from an older FCCM on-premise release, your ETL must be in compliance with the latest sample templates. Additionally, migrating customers must set the Version parameter value of the AMLDataLoad batch to 8124.To specify which version the template you are using to upload data to Object Storage is compatible with, you must update the parameters in the AMLDataLoad batch as shown in the AMLDataLoad Batch Detail. New implementations and existing customers who have migrated to the latest data model must set this value to 8124.
Upgrading to the latest version of FSDF supports compliance with the latest regulatory updates and data model enhancements.
Steps to Enable
Use the steps given in the AMLDataLoad Batch Detail to switch the data version to the latest.
Key Resources
Delta Loading Pipeline Updates
The following data pipelines have been updated in this release to support delta loading:
- Load Customer Data
- Load Account Data
- Load Transaction Data and Derive External Entities and Risk
- Load Loan Data
- Load Insurance Data
If your implementation uses delta loading to seed data, there are specific considerations when maintaining your data. When certain tables are updated, you must maintain the corresponding seeding table entries. Similarly, when seeding tables are updated, you must maintain the corresponding primary table entries. Refer to the Oracle® FCCM Cloud Services Data Loading Guide for more information.
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 existing Ingestion batch for the changes to be reflected.
Key Resources
Know Your Customer
Increased Coverage for Customer Risk Scoring
The following new out of the box risk parameters are included for Customer Risk Scoring as part of KYC Onboarding:
- Expected to Transact with HR Cntry List - List of high-risk countries the applicant is expected to transact with (for example, send or receive money via wire transfer)
Increased coverage allows organizations to better detect behaviors of interest.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Reports For Download
The following new KYC canned MIS reports have been added:
-
FCC_CANNED_KYC_CUSTOMER_RISK_ASSESSMENT_REPORT This report contains details of risk assessment for existing customers of the financial institution. Each risk assessment record contains risk assessment id, risk assessment date, customer profile & risk rating details
-
FCC_CANNED_KYC_PROSPECT_RISK_ASSESSMENT_REPORT This report contains details of risk assessment for new prospects/applicants of the financial institution. Each risk assessment record contains risk assessment id, risk assessment date, applicant profile & risk rating details.
-
FCC_CANNED_KYC_ARR_CHANGE_LOG_REPORT This report contains details on Accelerated Re-review (ARR) based assessments including risk assessment id, risk assessment date, customer id and list of all change log attributes that triggered the risk assessment.
-
FCC_CANNED_KYC_CUST_ASSESSMENT_CNT_BY_RISK_RATING This report contains Customer Risk Assessment Count by Risk Rating.
-
FCC_CANNED_KYC_PROSPECT_ASSESSMENT_CNT_BY_RISK_RATING This report contains Onboarding Prospect Risk Assessment Count by Risk Rating.
Using public APIs to download Canned Reports allows Oracle clients to use tools to get data from FCCM CS in an automated fashion.
Steps to Enable
You don't need to do anything to enable this feature.
Tips And Considerations
To use Reports for Download from the Admin Console, your user profile must be mapped to the Data Maintenance Admin Group and KYC Admin User Group.
For more information about User Role and User Group mapping, see the Identity Management section in Admin Console User Guide. For more information about using the Canned Reports, see the View Reports for Download section in Admin Console User Guide.
Key Resources
Customer Screening
Support for Auto-elimination of Events
In this release, Customer Screening CS has added pre-set rules for auto-elimination that will enable events to be marked as False Positive. The auto-elimination rules can be enabled or disabled any time based on the event type (SAN/PEP/EDD/PRB).
Eliminating false positives allows investigators to focus on events worthy of analysis.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Support for Country Prohibition Screening
A new private watchlist feature has been added that enables users to add a list of countries for Country Prohibition screening. When a screening is performed for a customer from any of these countries (Citizenship, residence country etc.), matches will be generated that are tagged as Country Prohibition risk events. These events will have a workflow similar to SAN/PEP/EDD.
This feature allows organizations to better detect potentially risky behavior.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Report Enhancements
A new My Cases report has been added. CS analysts can view this report. Upon implementation of this feature, analysts will be able to access the Cases Report view, with the cases that they have been assigned. Users will be able to download this report in ‘csv format’.
Comprehensive reporting provides greater clarity and insight.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Investigation Hub
New Case Types
The following new case types are supported by Investigation Hub Cloud service:
- Transaction Filtering: This case type allows for sanctions screening, analysis, and resolution capabilities.
- Country Prohibition: This Customer Screening case type allows for screening against a list of prohibited countries.
Supporting additional case types allows users to investigate cases which correspond to the source of the data and the categorization of the watchlist record.
Steps to Enable
Users must be mapped to the appropriate case type, domain, and jurisdiction in order to view and disposition these cases. Follow the steps in Application Security Mapping.
Key Resources
Support for Auto-Elimination of Events
Customer Screening events may be automatically eliminated, based on a set of pre-defined rules for auto-elimination that will enable events to be marked as False Positive. The auto-elimination rules can be enabled or disabled any time based on the event type (SAN/PEP/EDD/PRB).
The dispositions and reasons for elimination are displayed on the CS events.
Eliminating false positives allows investigators to focus on events worthy of analysis.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Object Migration
Object Migration has been introduced to allow for migration of objects, such as configurations, security attributes, and so on, from the dev tenancy to the production tenancy.
Object Migration updates help Oracle clients migrate metadata definitions between environments of separate instances seamlessly.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources