Whitepapers
22nd October 2021
Taken at its simplest, money laundering is a process by which the origins and ownership of money, generated as a result of criminal activity, can be concealed.
For insurance businesses, regardless of size, AML compliance is as much about managing cost as managing risk.
The insurance industry and the regulatory requirements around counterparty risk is always evolving, and so the obligations to minimise the risk and safeguard customers is becoming much more challenging for insurance companies. In the wake of COVID-19, financial crime continues to increase and whilst not all of these can be stopped, it is crucial they are recognised.
With thousands of businesses reissuing TOBAs to cater for new Consumer Duty obligations, we take a look at the importance of written agreements in B2B relationships and how firms can manage their obligations efficiently...
The FCA and US Authorities are committed to enforcing anti-corruption and anti-money laundering laws and regulations to protect the integrity of the financial system and to prevent financial crime. In this article we look at the risks and the controls financial services firms should consider...
Regardless of their role in an insurance deal, brokers must verify that their potential clients and trading partners aren't barred from entering insurance transactions. However, carrying out these checks can be a challenging task. What is the impact of the task and responsibilities brokers have and how can they manage risks?
