InScope AML KYC Software

by Shane Mcmullan Apr 27, 2022

Version 8.3

InScope-AML version 8.3 will be rolled out to our cloud environment on the 27th April 2022. On-premise environments will receive these updates at a later date and may be batched with future releases. Whilst it is a relatively minor update to the previous version, it does include some important new functionality.

Summary

Field Length Capacity Improved
New risk weighting options
New Segment Filters
New Filter for Entity Search Screens
Bug Fixes

Field Length Capacity Improved

The length of certain fields, namely City, State, Postcode has been updated to allow for up to 255 characters in order to improve record-keeping within InScope.

New risk weighting options, by entity type.

InScope-AML has updated its options with regards to how risk is weighted, within a pillar. This means that users are now able to define how important risk pillars are related to the entity type that is being assessed, including Transactions and Transaction Parties for Real Estate configurations:

This is only possible within configurations that use Weighted Averages to assess risk.

When assigning weighting users will first be asked to input a pillar weight, and thereafter be prompted to choose whether on not to use different weights per entity type.

As shown above, a 0 can also be input. This will cause the system to not register risk weighting for the specified entity type.

New Segment Filters

InScope-AML has added new segment filters to improve upon existing flexibility in reporting and rule building in the system. The First new Filter is ‘Transaction Value’.

This allows for rules to apply only to Real Estate transactions of above, below, or equivalent to a certain value.

For example, if a property is sold that is above EUR 1,000,000 in value and additional documentation is required, the system can now build a segment to capture this, and then use such a segment to apply Mandatory Document rules to transactions that are within the segment.

N.B. this filter is only available for segments built on the transaction entity type and will not appear for other entity types.

The second new filter is ‘has search hits’, this filter references the InScope sanctions searches and StartKYC integration feature and allows users to create reports or rules that will filter entities that have potential Search hits.

This builds on the ‘open searches with hits’ filter and further refines the utility of the segment builder in both reporting and rules application.

New Filter for Entity Search Screens

The final update to this version is a new filter in the various entity screens, which allows users to filter data by entity status, as per the below.

This allows for easier identification of various entities, and in combination with other filters becomes a very powerful search tool. I.E. for identifying all serviced individuals of Russian Nationality.