Accuity Report Outlines How Insurance Firms Can Minimize Money Laundering and Sanctions Risk

Accuity Report Outlines How Insurance Firms Can Minimize Money Laundering and Sanctions Risk

White paper offers a call-to-action for insurance firms to follow a committed path to compliance by reviewing the clients they on-board and retain in new and even more critical ways

In response to the widespread regulatory changes in the insurance industry, Accuity, a division of BankersAccuity, has released a white paper providing critical guidance for compliance professionals.

The paper, “Finding Safe Harbor: How insurance firms can minimize anti-money laundering and sanctions risk throughout the policy and payment lifecycle,” examines federal and global anti-money laundering (AML) and trade sanctions laws and the compliance obligations for insurance firms.

“Implementing a truly effective global compliance program requires more than simply accessing the standard sanctions lists. Our white paper aims to dissect the issues and provide guidance on how firms can best prepare,” says Brent Newman, Executive Vice President of Accuity and the author of the report. “The insurance industry must take the necessary steps in complying with current AML and trade sanctions in order to efficiently address regulatory requirements.”
Accuity press release: here

Direct link to the whitepaper: here