Version 7.11

Custom Fields in External Searches and Risk Assessments Screens

Prior to this release, administrators could select custom field categories that would appeared in External Searches screen. This allows you to select a list of questions that need to be completed whenever an external search is closed. Our clients have used this feature to define fields such as “Is PEP”, “Has Adverse Media” and “Has Sanctions”. We have enhanced this feature in two ways:

• We have always felt it was important that these fields that are selected to be displayed in the External Searches screen, are not pre-populated so as to ensure that they are filled in every time the external search is closed. However, this raises the issue of not knowing what the current value of the custom field is. For example, if a field “Is PEP” has already been filled in as “Yes”, we want to communicate to the user closing the search that despite what the search results are indicating, we are considering the individual as a PEP. To communicate this, we have added the current status of the custom field as shown below:

• We have also extended the ability to surface custom fields in External Searches screens to also show the fields (as read-only) in risk assessments screens. Whenever a risk assessment is carried out, the custom field values at that point in time are saved with the risk assessment. This ensures that whenever you go back to review a risk assessments that was carried out in the past, you can also review the value of these custom fields at that point in time. This feature can be switched on through the custom field categories screen as shown below:

The custom fields are then surfaced in the risk assessment as shown below:

Individual Related Parties and Agents

We have added support to specify an Agent relationship – this works similarly to other related parties – i.e. an agent can be added to an entity in the same way you would add a director to a company. Moreover, in previous versions of InScope such related parties were not supported for individual profiles. In the latest version, you are now able to add relationships such as signatories or agents to an individual profile (in cases where there is a spouse, or children of a client with a power of attorney, for example). Note that this feature is not available to everyone by default since switching it on might require changes to your risk scoring. Should you be interested in using this feature, kindly contact our support team on support@inscope-aml.com.

Sanction Updates Improvements

On a daily basis, InScope-AML accesses sanction files published by the EU/UN and made available for free via on the EU/UN servers. Over the past months, there were cases where these services experienced outages or issues that caused our daily updates to fail which resulted in the process to update sanctions requiring manual intervention. We have made improvements to these processes such that in cases of such failures, the system reverts back to the previously downloaded file and ensures that sanction searches remain unaffected. The system will then automatically attempt to download the files again the next day.

Simplified Risk Rules: New Option for Corporate Owners

Prior to this release, administrators could use simplified risk rules to specify that the risk score of an entity is based on a risk factor of its corporate owners (i.e. any entity within the entity’s structure chart). For example, administrators could create a rule that specified that if a client’s shareholder (or a shareholder’s shareholder) is an entity registered in a high risk jurisdiction, the client becomes high risk. This feature has been split into two – one that specifies that such rules apply irrespective of the ownership percentage and another that takes into account only entities where the percentage owned is in line with the UBO threshold (e.g. 25%) as set within the Risk Settings. Any rules created prior to this release have automatically been migrated to Corporate Owner (Any Percentage). Going forward, administrators can keep choosing this option be could also use the new Corporate Owner (Min Percentage).

Alternative Definition of Subsidiaries

Prior to this release, users could create a client’s subsidiaries by building the structure chart of the subsidiary. For example, if your client is Corporate Holding Limited, you could create a company called Corporate Trading Limited, marked as Not a Client and include Corporate Holding Limited as a shareholder within Corporate Trading Limited. The system would then identify that Corporate Trading Limited is a subsidiary of Corporate Holding Limited.

This feature is still supported but has been enhanced to also allow users to add the subsidiary to the client from a new option called Subsidiaries accessible from the Structure menu at the client entity level. This allows greater flexibility when recording various aspects of a structure.

Subsidiaries will be shown on an entity’s profile when added via the structure chart or, alternatively, when added via the Subsidiaries tab in the Structure section of the profile. Moreover, simplified rules can also be applied to take a subsidiary’s risk factors into account when recommending a client’s risk score.

Note that this feature is not available to everyone by default since switching it on might require changes to your risk scoring. Should you be interested in using this feature, kindly contact our support team on support@inscope-aml.com.

Manage User Sessions

In this version of InScope-AML we have added a permission level called Manage user sessions which allows users to log other users out of the system forcibly, ensuring that there are free sign in slots for consecutive users.

Improvements to Login/Logout Process

We have made a number of improvements to the login/logout process including:

• There have been cases where our users have multiple Microsoft/Google accounts, only one of which is linked to InScope. For example, if a company is using Google authentication, employees might have a corporate GMail account as well as a personal GMail account. If a user is logged in with his/her personal account and then attempts to log in with their personal account, they are redirected to the registration page. We have now made it easier for users to figure out that this has happened by displaying the email address used to log in and giving the option to log out and log in with another account.

  

• For clients with access to multiple databases, we have simplified the user interface used to switch between databases by having the name of the database clickable.

Batch Download of Entity Documents

The Documents section of an entity profile will now allow the downloading of all documents stored in the system in a batch. These options will place all documents for that entity in a zip file and download it.

Other Quality of Life Updates

Some other minor improvements include:

• Deceased Individuals (e.g. UBOs) are now shown as greyed out within the Companies/Trusts/Organisations dashboards.
• Delivery channel option is no longer shown for ‘Not a client’ entities
• Simplified rules now support the same risk source used across different jurisdiction risk pillars.

Bug Fixes

• Logout button does not always work on account switching page / registration page.
• Saving an entity with an inactive delivery channel is no longer allowed.