An Office 365 Access Monitoring via securlet policy has been configured in CASB (CloudSOC).
When a user downloads a shared file, the event does not appear in the Investigate tab, even though other O365 activities are logged.
Download activity for Access Monitoring policies is captured under Admin activity events and depends on Microsoft 365 audit logs as the data source.
Reference:
O365 Securlet ATP: Access Monitoring
If audit logging is not enabled in the Microsoft 365 tenant, download events will not be available for CASB to ingest.
Complete the following steps to turn on auditing:
It might take up to 60 minutes for the change to take effect.