Question 1

Are insurers AML-regulated?

Accepted Answer

Yes — but the obligation is largely concentrated on life insurance and other investment-linked insurance products, where premiums and surrender values can be used to launder funds. General (non-life) insurance is broadly excluded in the EU, UK and Australia, and only US insurers issuing covered p...

Question 2

What screening matters most in life insurance?

Accepted Answer

Customer and beneficial owner identification and verification; PEP and sanctions screening of policy owner, insured life, beneficiaries (initial and any subsequent change), and any third-party premium payer; source of funds for large lump-sum premiums; flags for early-surrender behaviour, unusual...

Insurance