Insurance companies

Red flags include:

  • Cash payments on insurance policies

  • Refunds requested during cancellation period

  • Policy payments made from abroad

  • Beneficiary of policy has no relation to the policy owner

  • Unconcerned with penalties for early redemption

  • Bonds sold in one jurisdiction that are redeemed by an entity in another jurisdiction




Next Topic: Broker-Dealers

Previous Topic: Money remitter/ currency exchange house

Get the Book & Pass First Time!

Includes all the study notes, the mock exam and detailed explainations of the answers

Get the AML Book & Pass First Time - Instant PDF Download