Anti-Money Laundering for Insurance Professionals

Understand money laundering and the responsibilities of financial institutions under the Patriot Act, SAR, CIP, and KYC.

Approval: #27645

Credit Type: General

Credit: 2 Hour(s) Language: English

25+ Years

#1 Trusted Insurance Training Provider

100% Online

Courses Available 24/7 on Any Device

Flexible & Easy

User-Friendly Courses

About
Regulatory

About

About This Course

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).

Regulatory

Name:	Ohio Department of Insurance
Phone:	614-644-2658
Fax:	614-644-3743
Website URL:	https://www.insurance.ohio.gov/Pages/default.aspx
Email Address:	licensing@nsurance.ohio.gov
Address:	50 W. Town Street3rd Floor - Ste. 300
City:	Columbus
State:	OH
Zip:	43215