An increased focus on anti-money laundering and countering the financing of terrorism (AML/CFT) regulations in the insurance industry has led to specific guidelines for different types of insurance based on the level of risk. The risk associated with each insurance type determines the controls and processes that the provider needs to have in place. High-risk businesses such as life and marine insurance, for example, will need more stringent controls read more
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A Guide to PEP and Sanction Checks
If you own or work for a business that must comply with “know your customer” (KYC) and anti-money laundering (AML) regulations, then odds ...
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If you own or work for a business that must comply with “know your customer” (KYC) and anti-money laundering (AML) regulations, then odds ...
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In 2001, FinCEN implemented KYC, or know your customer regulations, as part of the Patriot Act. These requirements are intended to be coun...
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Detection, deterrence, and money laundering prevention require the following on every AML checklist for banks: 1. AML requires an anti money...
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