The new EU Anti-Money Laundering Regime: implications for life insurers and insurance intermediaries
Scope of Obliged Entities – The AML Regulation expands the definition of ‘obliged entities’. Financial institutions listed in Article 2(6) of the AML Regulation, which includes life insurers and ...
Insurance companies will be required to frequently audit their high-risk customers in line with new guidelines issued by the regulator. The move aims at strengthening their internal anti-money ...
The Insurance Authority (IA) in Hong Kong has fined three insurance broker firms a total of approximately USD54,800 for breaches of anti–money laundering (AML) regulations.
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Hong Kong regulator fines three brokers $55,770 over AML breaches
Compliance gaps revealed weak controls for identifying politically exposed clients. Hong Kong’s Insurance Authority (IA) reprimanded and fined three licensed insurance brokerages a total of $55,770 ...
The FATF greylist refers to a gazetted list of countries that suffer from substantial weaknesses in their AML/CFT compliance regimes ...
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