Version 7.0: March 2020

New Features

Main Report Dashboard Improvements (REQ 2020 Support)

The report dashboard has been given a major upgrade with a number of features that assist in the analysis of InScope data as well as the preparation of the Risk Evaluation Questionnaire (REQ) by the FIAU in Malta. These changes include:

  • Data can now be filtered by a date range (defaulting to the previous calendar year). Data in all report panels is now organised into four columns – active relationships as at the end of the reporting period, terminated relationships during the reporting period, occasional transactions during the reporting period, and total figures. When gathering data for the REQ you may sometimes need to consider active relationships or occasional transactions only and there may be cases where the total number of serviced entities is required. The report structure now allows you to do this easily.
  • The user interface was modified to allow you to filter individual reports via a panel on the left.
  • Clicking on a value within any report now provides you with a list of the entities represented by that value making it easier to understand how the figures were computed.
  • A lot of questions within the REQ deal with breakdown by country category. Within the 2020 version of the REQ, these categories are Malta, EU/EEA, non-EU and high risk countries (FATF blacklisted countries, those on the EU Weak AML List as well as those having a Basel Index less than 20). For InScope clients based in Malta, country-related reports are by default grouped by these categories.
  • By default all reports related to UBOs only consider UBOs with 25% ownership or more. This can however be modified via the report parameters.

New Report Screens

We have also added a few new report screens including:

  • Clients by Related Countries: This screen provides reports for all related country types configured in the system and can be used in order to answer questions within the REQ that deal with related countries (e.g. if asked the jurisdiction of financial intermediaries used by your clients).
  • Office List: This screen provides a list of officers (e.g. directors/company secretaries) related to each serviced entity.
  • UBO List: This screen provides a list of all Ultimate Beneficial Owners (UBOs) for all serviced clients.

Trustees as UBOs

Various screens have been modified to allow you to view any trustee of any trust within a company’s structure chart – in some cases, these could be considered as UBOs of the company. For example, the Structure Chart screen displays a list of such trustee BOs and the Company dashboard also shows a list of these trustees.

All Connections Tab

For Companies, Trusts and Organisations a new tab All Connections has been added. This displays all entities that could have some form of ownership or control relationship within the entity – including shareholders, beneficial owners, controllers, officers or entities that have some element of ownership or control of these entities. For each entity, the system displays the risk rating from the last risk assessment (or the recommended risk scores if a risk assessment was not carried out) as well as the number of warnings associated with the entity. Clicking on the each row displays its relationship to the entity, all the segments it belongs to and all the warnings.

Basel Index External List

We have added a new external country list with the Basel Index for all countries. For our InScope clients that are using the standard country lists, we are advising them to include countries with Basel Index less than 20 to the high risk category (currently called FATF and EU Blacklist). The first time administrators log into the new version of InScope, the system will display a popup that asks whether you would like to add this rule and rename the country category and related segments to High Risk Countries.

Other Minor Changes

  • New field in Company for Is Holding Company.
  • Added support within the Individual screens to register identification documents that do not have an expiry date.

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