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  • Anti-Money Laundering for Insurance Professionals

Anti-Money Laundering for Insurance Professionals

Description

Money laundering plays a fundamental role in facilitating the ambitions of the drug trafficker, the terrorist, the organized criminal, the insider dealer, and the tax evader, as well as the many others who need to avoid the kind of attention from the authorities that sudden wealth from illegal activities brings. By engaging in this type of activity, criminals hope that their proceeds will be beyond the reach of asset forfeiture laws. Financial institutions such as insurance companies are at the forefront of the battle against the money launderers. Under current legislation, insurance companies are responsible for policing their financial dealings and reporting any suspicious transactions. This course will dwell upon the new regulatory environment of the insurance industry vis a vis money laundering, specifically the USA Patriot Act 2001. The course aims to highlight the key aspects of the USA Patriot Act namely, the Suspicious Activities Report (SAR) and the Know Your Customer provision (KYC).

Money laundering plays a fundamental role in facilitating the ambitions of the drug trafficker, the terrorist, the organized criminal, the insider dealer, and the tax evader, as well as the many others who need to avoid the kind of attention from the authorities that sudden wealth from illegal activities brings. By engaging in this type of activity, criminals hope that their proceeds will be beyond the reach of asset forfeiture laws. Financial institutions such as insurance companies are at the forefront of the battle against the money launderers. Under current legislation, insurance companies are responsible for policing their financial dealings and reporting any suspicious transactions. This course will dwell upon the new regulatory environment of the insurance industry vis a vis money laundering, specifically the USA Patriot Act 2001. The course aims to highlight the key aspects of the USA Patriot Act namely, the Suspicious Activities Report (SAR) and the Know Your Customer provision (KYC).

Money laundering plays a fundamental role in facilitating the ambitions of the drug trafficker, the terrorist, the organized criminal, the insider dealer, and the tax evader, as well as the many others who need to avoid the kind of attention from the authorities that sudden wealth from illegal activities brings. By engaging in this type of activity, criminals hope that their proceeds will be beyond the reach of asset forfeiture laws. Financial institutions such as insurance companies are at the forefront of the battle against the money launderers. Under current legislation, insurance companies are responsible for policing their financial dealings and reporting any suspicious transactions. This course will dwell upon the new regulatory environment of the insurance industry vis a vis money laundering, specifically the USA Patriot Act 2001. The course aims to highlight the key aspects of the USA Patriot Act namely, the Suspicious Activities Report (SAR) and the Know Your Customer provision (KYC).

Money laundering plays a fundamental role in facilitating the ambitions of the drug trafficker, the terrorist, the organized criminal, the insider dealer, and the tax evader, as well as the many others who need to avoid the kind of attention from the authorities that sudden wealth from illegal activities brings. By engaging in this type of activity, criminals hope that their proceeds will be beyond the reach of asset forfeiture laws. Financial institutions such as insurance companies are at the forefront of the battle against the money launderers. Under current legislation, insurance companies are responsible for policing their financial dealings and reporting any suspicious transactions. This course will dwell upon the new regulatory environment of the insurance industry vis a vis money laundering, specifically the USA Patriot Act 2001. The course aims to highlight the key aspects of the USA Patriot Act namely, the Suspicious Activities Report (SAR) and the Know Your Customer provision (KYC).

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Course Requirements

Phone:
303-894-7499
Fax:
303-894-7455
Website URL:
www.dora.state.co.us
Email Address:
insurance@dora.state.co.us
Address:
1560 Broadway, Ste.850
City:
Denver
State:
CO
Zip:
80202

Phone:
501-371-2600
Fax:
501-371-2618
Website URL:
www.insurance.arkansas.gov
Email Address:
insurance.license@arkansas.gov
Address:
1200 W. 3rd Street
City:
Little Rock
State:
AR
Zip:
72201-1904

Phone:
877-881-6388
Fax:
717-787-8553
Website URL:
www.insurance.pa.gov
Email Address:
aforce@state.pa.us
Address:
1326 Strawberry Square
City:
Harrisburg
State:
PA
Zip:
17120

Phone:
808-586-2790
Fax:
808-587-6714
Website URL:
www.insurance.hawaii.gov
Email Address:
insurance@dcca.hawaii.gov
Address:
335 Merchant Street, Room No. 213 (96813) King Kalakaua Building
City:
Honolulu
State:
HI
Zip:
96811-3614

Phone:
804-371-9631
Fax:
804-371-9290
Website URL:
http://www.scc.virginia.gov/division/boi/webpages/
Email Address:
bureauofinsurance@scc.virginia.gov
Address:
1300 E. Main Street, Tyler Building
City:
Richmond
State:
VA
Zip:
23219

Phone:
601-359-3569
Fax:
601-389-2474
Website URL:
www.mid.state.ms.us
Email Address:
commissioner@mid.state.ms.us
Address:
501 N. West Street, Ste. 1001
City:
Jackson
State:
MS
Zip:
39201

Phone:
775-687-4270
Fax:
775-687-3937
Website URL:
www.doi.nv.gov
Email Address:
jamiller@doi.state.nv.us
Address:
1818 E.College Parkway, Suite 103
City:
Carson City
State:
NV
Zip:
89706

Phone:
317-232-2385
Fax:
317-232-5251
Website URL:
www.in.gov/idoi
Email Address:
doi@state.in.us
Address:
311 W. Washington, Ste.300
City:
Indianapolis
State:
IN
Zip:
46204-2787

Phone:
608-266-3585
Fax:
608-266-9935
Website URL:
www.oci.wi.gov
Email Address:
ociagentlicensing@wisconsin.gov
Address:
125 Webster Street P.O. Box 7873
City:
Madison
State:
WI
Zip:
53707-7873

Phone:
207-624-8475
Fax:
207-624-8599
Website URL:
www.maine.gov/insurance
Email Address:
Insurance.PFR@maine.gov
Address:
124 Northern Avenue
City:
Gardiner
State:
ME
Zip:
04345

Phone:
609-292-7272
Fax:
609-292-3144
Website URL:
www.njdobi.org
Email Address:
inslic@dobi.state.nj.us
Address:
20 W. State Street P.O. Box 325
City:
Trenton
State:
NJ
Zip:
08625

Phone:
850-413-3100
Fax:
850-413-3291
Website URL:
www.myfloridacfo.com
Email Address:
ofr@flofr.com
Address:
200 E. Gaines Street Larson Building
City:
Tallahassee
State:
FL
Zip:
32399-0319

Learning Objectives

Upon completion of the course, the student will be able to:
- Understand the scope and effect of Money Laundering.
- Understand the Process and Methodology of Money Laundering.
- Understand the impact of money laundering on the Operations and responsibilities of Financial Institutions.
- Understand the regulatory environment vs. Money Laundering for the securities industry.

End of Course Instructions

Congratulations! You have successfully completed your continuing education course. Your completion certificate will be emailed to you as soon as you send in your Appendix G. You must fax a copy of your signed affidavit (Appendix G) to 360training at 512-853-2657.

Quiz Information

You will not be required to pass the quizzes to move on to the next lesson.

Exam Information

You will be required to pass the final exam with a 70% in order to receive course credit.

Duration
2 hrs

Course Details:

  • Course Format: Online Interactive Online Interactive
  • Price:  $60.00
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