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Anti-Money Laundering for Insurance Professionals GA - (LAH, PC)

Description

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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).

Course Requirements

Anti-Money Laundering for Insurance Professionals Georgia Insurance Department

Phone:
404-656-2056
Fax:
404-657-8542
Website URL:
www.oci.ga.gov
Email Address:
agents@oci.ga.gov
Address:
716 West Tower,2 Martin Luther King. Jr Drive Floyd Memorial Building
City:
Atlanta
State:
GA
Zip:
30334

Credential Continuing Education Requirements:

Total Credit(s):
12.0
Required Credit Topics:
Electives: 12.0 Credit(s)
Renewal Frequency:
2 Year(s)
Renewal Deadline:
Birth Date
Renewal Period:
End of Month
Pre-Requisite:
Additional Information:
This year’s renewal is similar to past renewals. A late fee of $15 will be assessed to all Agents and Agencies who fail to renew by November 1, 2012. Any license not renewed by December 31, 2012 will be terminated. Effective with this year’s license renewal, individual license expiration dates will be changing from a fixed expiration date of December 31 to the last day of the licensee’s birth month. In addition to the change in expiration dates for individual licenses, the renewal term for all licenses will be for two (2) years. Therefore each applicant for renewal will be required to pay a two-year renewal fee. Continuing education requirements for the 2012 license renewal cycle will be unchanged. The next renewal cycle, in approximately two years, will require licensees to complete two-years worth of continuing education. http://www.oci.ga.gov/Agents/Home.aspx
Total Credit(s):
12.0
Required Credit Topics:
Electives: 12.0 Credit(s)
Renewal Frequency:
2 Year(s)
Renewal Deadline:
Birth Date
Renewal Period:
End of Month
Pre-Requisite:
Additional Information:
This year’s renewal is similar to past renewals. A late fee of $15 will be assessed to all Agents and Agencies who fail to renew by November 1, 2012. Any license not renewed by December 31, 2012 will be terminated. Effective with this year’s license renewal, individual license expiration dates will be changing from a fixed expiration date of December 31 to the last day of the licensee’s birth month. In addition to the change in expiration dates for individual licenses, the renewal term for all licenses will be for two (2) years. Therefore each applicant for renewal will be required to pay a two-year renewal fee. Continuing education requirements for the 2012 license renewal cycle will be unchanged. The next renewal cycle, in approximately two years, will require licensees to complete two-years worth of continuing education. http://www.oci.ga.gov/Agents/Home.aspx
Total Credit(s):
12.0
Required Credit Topics:
Electives: 12.0 Credit(s)
Renewal Frequency:
2 Year(s)
Renewal Deadline:
Birth Date
Renewal Period:
End of Month
Pre-Requisite:
Additional Information:
This year’s renewal is similar to past renewals. A late fee of $15 will be assessed to all Agents and Agencies who fail to renew by November 1, 2012. Any license not renewed by December 31, 2012 will be terminated. Effective with this year’s license renewal, individual license expiration dates will be changing from a fixed expiration date of December 31 to the last day of the licensee’s birth month. In addition to the change in expiration dates for individual licenses, the renewal term for all licenses will be for two (2) years. Therefore each applicant for renewal will be required to pay a two-year renewal fee. Continuing education requirements for the 2012 license renewal cycle will be unchanged. The next renewal cycle, in approximately two years, will require licensees to complete two-years worth of continuing education. http://www.oci.ga.gov/Agents/Home.aspx
Total Credit(s):
12.0
Required Credit Topics:
Electives: 12.0 Credit(s)
Renewal Frequency:
2 Year(s)
Renewal Deadline:
Birth Month
Renewal Period:
End of Month
Pre-Requisite:
Additional Information:
"This year’s renewal is similar to past renewals. A late fee of $15 will be assessed to all Agents and Agencies who fail to renew by November 1, 2012. Any license not renewed by December 31, 2012 will be terminated. Effective with this year’s license renewal, individual license expiration dates will be changing from a fixed expiration date of December 31 to the last day of the licensee’s birth month. In addition to the change in expiration dates for individual licenses, the renewal term for all licenses will be for two (2) years. Therefore each applicant for renewal will be required to pay a two-year renewal fee. Continuing education requirements for the 2012 license renewal cycle will be unchanged. The next renewal cycle, in approximately two years, will require licensees to complete two-years worth of continuing education. http://www.oci.ga.gov/Agents/Home.aspx"
Total Credit(s):
12.0
Required Credit Topics:
Electives: 12.0 Credit(s)
Renewal Frequency:
2 Year(s)
Renewal Deadline:
Birth Date
Renewal Period:
End of Month
Pre-Requisite:
Additional Information:
This year’s renewal is similar to past renewals. A late fee of $15 will be assessed to all Agents and Agencies who fail to renew by November 1, 2012. Any license not renewed by December 31, 2012 will be terminated. Effective with this year’s license renewal, individual license expiration dates will be changing from a fixed expiration date of December 31 to the last day of the licensee’s birth month. In addition to the change in expiration dates for individual licenses, the renewal term for all licenses will be for two (2) years. Therefore each applicant for renewal will be required to pay a two-year renewal fee. Continuing education requirements for the 2012 license renewal cycle will be unchanged. The next renewal cycle, in approximately two years, will require licensees to complete two-years worth of continuing education. http://www.oci.ga.gov/Agents/Home.aspx
Total Credit(s):
5.0
Required Credit Topics:
Electives: 5.0 Credit(s)
Renewal Frequency:
2 Year(s)
Renewal Deadline:
Birth Month
Renewal Period:
End of Month
Pre-Requisite:
Additional Information:
"This year’s renewal is similar to past renewals. A late fee of $15 will be assessed to all Agents and Agencies who fail to renew by November 1, 2012. Any license not renewed by December 31, 2012 will be terminated. Effective with this year’s license renewal, individual license expiration dates will be changing from a fixed expiration date of December 31 to the last day of the licensee’s birth month. In addition to the change in expiration dates for individual licenses, the renewal term for all licenses will be for two (2) years. Therefore each applicant for renewal will be required to pay a two-year renewal fee. Continuing education requirements for the 2012 license renewal cycle will be unchanged. The next renewal cycle, in approximately two years, will require licensees to complete two-years worth of continuing education. http://www.oci.ga.gov/Agents/Home.aspx"
Total Credit(s):
12.0
Required Credit Topics:
Electives: 12.0 Credit(s)
Renewal Frequency:
2 Year(s)
Renewal Deadline:
Birth Month
Renewal Period:
End of Month
Pre-Requisite:
Additional Information:
"This year’s renewal is similar to past renewals. A late fee of $15 will be assessed to all Agents and Agencies who fail to renew by November 1, 2012. Any license not renewed by December 31, 2012 will be terminated. Effective with this year’s license renewal, individual license expiration dates will be changing from a fixed expiration date of December 31 to the last day of the licensee’s birth month. In addition to the change in expiration dates for individual licenses, the renewal term for all licenses will be for two (2) years. Therefore each applicant for renewal will be required to pay a two-year renewal fee. Continuing education requirements for the 2012 license renewal cycle will be unchanged. The next renewal cycle, in approximately two years, will require licensees to complete two-years worth of continuing education. http://www.oci.ga.gov/Agents/Home.aspx"
Total Credit(s):
5.0
Required Credit Topics:
Electives: 5.0 Credit(s)
Renewal Frequency:
2 Year(s)
Renewal Deadline:
Birth Month
Renewal Period:
End of Month
Pre-Requisite:
Additional Information:
"This year’s renewal is similar to past renewals. A late fee of $15 will be assessed to all Agents and Agencies who fail to renew by November 1, 2012. Any license not renewed by December 31, 2012 will be terminated. Effective with this year’s license renewal, individual license expiration dates will be changing from a fixed expiration date of December 31 to the last day of the licensee’s birth month. In addition to the change in expiration dates for individual licenses, the renewal term for all licenses will be for two (2) years. Therefore each applicant for renewal will be required to pay a two-year renewal fee. Continuing education requirements for the 2012 license renewal cycle will be unchanged. The next renewal cycle, in approximately two years, will require licensees to complete two-years worth of continuing education. http://www.oci.ga.gov/Agents/Home.aspx"
Total Credit(s):
12.0
Required Credit Topics:
Electives: 12.0 Credit(s)
Renewal Frequency:
2 Year(s)
Renewal Deadline:
Birth Month
Renewal Period:
End of Month
Pre-Requisite:
Additional Information:
"This year’s renewal is similar to past renewals. A late fee of $15 will be assessed to all Agents and Agencies who fail to renew by November 1, 2012. Any license not renewed by December 31, 2012 will be terminated. Effective with this year’s license renewal, individual license expiration dates will be changing from a fixed expiration date of December 31 to the last day of the licensee’s birth month. In addition to the change in expiration dates for individual licenses, the renewal term for all licenses will be for two (2) years. Therefore each applicant for renewal will be required to pay a two-year renewal fee. Continuing education requirements for the 2012 license renewal cycle will be unchanged. The next renewal cycle, in approximately two years, will require licensees to complete two-years worth of continuing education. http://www.oci.ga.gov/Agents/Home.aspx"
Total Credit(s):
12.0
Required Credit Topics:
Electives: 12.0 Credit(s)
Renewal Frequency:
2 Year(s)
Renewal Deadline:
Birth Month
Renewal Period:
End of Month
Pre-Requisite:
Additional Information:
This year’s renewal is similar to past renewals. A late fee of $15 will be assessed to all Agents and Agencies who fail to renew by November 1, 2012. Any license not renewed by December 31, 2012 will be terminated. Effective with this year’s license renewal, individual license expiration dates will be changing from a fixed expiration date of December 31 to the last day of the licensee’s birth month. In addition to the change in expiration dates for individual licenses, the renewal term for all licenses will be for two (2) years. Therefore each applicant for renewal will be required to pay a two-year renewal fee. Continuing education requirements for the 2012 license renewal cycle will be unchanged. The next renewal cycle, in approximately two years, will require licensees to complete two-years worth of continuing education. http://www.oci.ga.gov/Agents/Home.aspx

This Course Satisfies:

Credit Hours:
3.00
Credit Type:
Continuing Education

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.

Who should take this?
Georgia Liscensed Insurance Professional
End of Course Instructions

Congratulations! You have successfully completed your continuing education course. ATTENTION: Please complete the affidavit, if required, and provide to 3rd party affiliate of 360training.com that monitored your exam; otherwise, please complete the affidavit and fax to 360training.com at 512-853-2657. 360training will report your credit hours to the Department of Insurance within 15 days. You may also now print your completion certificate online. Keep in mind that certificates of completion must be kept on file for 5 years.

Subject Matter Expert


Les Carter

Les was an executive in the financial services industry who has served as a President of a commercial bank, and as an Executive Vice President of a special servicing company. He has 20 years of commercial and mortgage banking experience including starting four companies: a commercial bank, a consulting company, a loan servicing company, and a consumer collection agency. Most recently, before joining 360Training, Les was an Executive Vice President of The Ontra Companies in Austin, TX, a nationally recognized holding company with interests in special servicing and loan originations. Prior to joining Ontra, Mr. Carter was President of a Texas Commerce Bank in Houston. Les has a MBA in Finance from Texas A&M University and is a doctoral candidate in Finance at Nova Southeastern University.

Course Outline

This course covers the following topics: Lesson 1: Money Laundering Defined Lesson 2: Effects of Money Laundering Lesson 3: Federal Money Laundering Laws for Securities Firms Lesson 4: The USA Patriot Act

Course Prerequisites
None
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.

Approved Course Hours
3.0

Course Details:

  • Course Format: Online Interactive Online Interactive
  • Language: English
  • Difficulty: Moderate
  • Price:  $15.00
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