Client Overview Dashboards
InScope stores details about your clients and generates dashboards that give you a 360-degree view of each client. For individuals, the dashboard provides full details of direct and indirect ownership and other positions held. For corporate entities, the dashboard provides all the details of shareholders, ultimate beneficial owners (UBOs), directors, controllers, officers, subsidiaries, holding companies, etc... These dashboards allow you to easily visualize relationships between the various entities within the system.
InScope allows you to easily build corporate structure charts. The system automatically calculates the percentage owned by each ultimate beneficial owner (UBO). InScope supports complex structure charts such as those involving multiple layers, nominee shareholders, trusts, foundations or listed companies.
Free Ongoing Sanction Checks
InScope automatically checks the list of individual and corporate clients against statutory UN and EU sanctions. Any full or partial matches are highlighted and presented to you on the main dashboard. Sanction lists are updated periodically, at which point sanction checks are re-run, providing ongoing monitoring. This feature ensures compliance with the Statutory obligations under Article 17 (6) (a0 and (b) of the National Interest (Enabling) Power Act.
PEP/Adverse Media Searches
In addition to free sanction checks, InScope can also provide a seamless integration into third party systems in order to carry out ongoing monitoring web searches as well as searches against PEP lists and adverse media. External searches are carried out periodically and results and exceptions are highlighted and presented to you on the main dashboard for review. You can also tag your clients for regular monitoring and be alerted if there is a hit.
Checklist and Custom Fields
InScope functionality can easily be extended to include custom checklists and custom fields that you can leverage to facilitate the collection of client data that is specific to your organization or risk policy. Small to medium sized organisations have also taken advantage of this feature to store non-AML related data (e.g. VAT numbers, annual return dates, etc…), using InScope as their Customer Relationship Management (CRM) system or core business application.
InScope can track documents stored externally in file shares, SharePoint, OneDrive or other third-party document management systems. The system can be configured to ensure that all mandatory documents have been collected. InScope also tracks expiry dates associated with such documents, including expiry dates on identification documents, and provides you with lists of expiring and expired documents.
InScope can be configured to trigger recurring ad-hoc tasks on each entity. These can be useful to enforce policies such as ensuring that file reviews are carried out periodically and data is kept up to date. Trustees, CSPs, legal firms as well as accountancy and audit firms have also leveraged this feature to manage recurring tasks that are not related to AML – such as tracking VAT due dates and annual return dates.
Automatic Risk Assessments
InScope provides the facility to carry out risk assessments on your clients. Risk scores are automatically assigned to each client, across various risk pillars. You can also configure simple or complex risk scoring rules to control the way in which risk scores are applied. Any changes to entity details or risk policies trigger a re-assessment of the risk scores for all affected entities.
Dashboards and Warnings
InScope issues warnings or reminders when risk assessments are overdue. For example, if an individual becomes politically exposed; all clients associated with that individual are automatically tagged for a risk assessment review. Other warnings include missing information, incomplete UBO lists, expired passports or identification papers, new results from external searches as well as custom reminders.
InScope provides a seamless integration into third party systems in order to carry out transaction monitoring. This module integrates into back-end systems and highlights any transaction that is deemed to be suspicious. Flagged transactions may provide additional information about the entity, which the user can use to update the entity profile within InScope and eventually the risk score associated with the entity.
InScope supports filtering by multiple criteria and provides a highly flexible tool to generate custom reports to manage all your AML-CFT risks. Reports can be displayed on screen or exported to Excel. The powerful reporting engine ensures your data can easily be extracted to support your day-to-day business operations and compliance requirements as well as simplifying replies to queries and requests from local authorities.
InScope provides full flexibility for customization of various parameters such as the definition of the various risk levels and the frequency of periodic risk assessments. You can configure different mandatory documents, different checklists or custom fields or different recurring tasks based on criteria such as the services offered to these clients, the related jurisdiction, PEP status, risk level, etc… This allows you to integrate your Enhanced Due Diligence processes into the system.
InScope is a web-based application that leverages the latest web technologies making it easy to access the application from anywhere and without requiring any preinstalled sofware on your machine.
Deployment and Integration Options
InScope can be accessed as a cloud service or installed within a local server infrastructure. All data is made available and accessible via an industry standard REST/ODATA API making it easy to integrate into the other applications within your organisation.
Security and Auditing
InScope applies industry standard security features such as SSL and OAuth to ensure all data is transmitted securely. Data at rest is stored securely using recommended Microsoft best practices for database security. At an application level, InScope allows administrators to configure different access permissions and tracks all entries and modifications made and presents audit trails within the application itself.