Anti-Money Laundering for the Insurance Industry

Overview

Following the September 11, 2001 attacks, the USA PATRIOT Act mandated that financial institutions implement anti-money laundering (AML) programs. This course reviews AML rules for insurance companies and producers, explores how life insurance products can be used in money laundering, and specific measures insurance companies must take to detect and prevent money laundering, including Suspicious Activity Reports and producer responsibilities.

Find this course for your license

License or Certification

Regulator

Objectives

demonstrate an understanding of money laundering, including the three phases of the money laundering process
offer examples of how financial products can be used in a money laundering process
identify the specific types of products that are most likely to be used
describe the basics of the USA PATRIOT Act and FinCEN's final rules as they pertain to an insurance company's AML program
demonstrate an understanding of the producer's and the employee's personal responsibilities with respect to the company's AML policy

Designed For:

Life and health insurance producers and finance professionals

WebCE® is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. For more information regarding WebCE administrative policies such as refunds, cancellations and concerns, please contact Support Services at 877-488-9308.

Course Information

Adding additional credit may change exam requirements.

Advanced Preparation:

None

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