The learner, upon completion of this course, will be able to communicate adequately to their clientele an overview of anti-money laundering, specifically the legislation surrounding the issue.
Money laundering plays a fundamental role in facilitating the ambitions of drug traffickers, terrorists, organized criminals, insider dealers, tax evaders, and many others who need to avoid the attention from authorities that sudden wealth from illegal activities brings. Criminals use money laundering to put their ill-gotten profits beyond the reach of asset forfeiture laws.
Financial institutions such as insurance companies are at the forefront of the battle against money launderers. Under current legislation, insurance companies are responsible for policing their financial dealings and reporting suspicious transactions. This course will examine anti-money laundering regulation in the insurance industry, specifically focusing on the USA PATRIOT Act of 2001, the Suspicious Activities Report (SAR), the Customer Identification Programs (CIP), and the "Know Your Customer" provision (KYC).
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.
Anti-Money Laundering for Insurance Professionals - South Carolina Department of Insurance
- South Carolina Department of Insurance
- Website URL:
- Email Address:
- 1201 Main St., Ste.100 P.O. Box 100105
End of Course Instructions
Congratulations! You have successfully completed your continuing education course. 360training or a 3rd party affiliate of 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 2 years.
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