The AML/CFT State Ordinance requires insurance companies, agents and brokers to complete Anti-Money Laundering training.
AML training is not just a compliance requirement; it is also a key component of risk management within the insurance sector. Insurance agents are at the frontlines of customer interaction and thus are in a prime position to recognize unusual/suspicious activities and transactions that could indicate money laundering or other illicit financial activities.
This course provides a thorough review of the anti-money laundering (AML) rules and guidelines as they pertain to insurance companies, agents and brokers. Also, the course describes the specific measures that insurance companies, agents and brokers must take to detect and prevent money laundering. Learn how to recognize unusual/suspicious activities and transactions that could indicate money laundering or other illicit financial activities and why and when an Unusual Transaction Report (UTR) must be filed with the FIU-Aruba.
The course further explores how certain life insurance products can be used in money laundering activities.
