Before we do a security comparison between Oracle Fusion and EBS, let us touch base on some fundamentals.
What is Authentication
Authentication is where the user needs to prove their identity using username and password
What is Authorization
Authorization identifies data and actions the user can access i.e. if the user has the correct permissions then they can perform the requested operation on the data or the screen or the report or the workflow.
Data Security
Controls which data can the users operate upon in the system.
In Oracle EBS, the product has been developed using predefined data security policies in the AOL module and also in each module that uses GL Ledgers or Value Sets or Multi Org Access control. In case of Oracle R12 E-Business Suite HCM, it uses product specific security called "Security Profiles" which are attached the a responsibility.
However in case of Oracle Fusion Cloud Applications, Oracle have developed a layer named APM. This APM layer sites above Oracle Identity Manager and Oracle Entitlement Server. The data security policies are stored in the data security policy store and are managed using screens APM, i.e. Authorization Policy Manager.