Law360, Los Angeles (May 02, 2012, 7:00 PM ET) -- The U.S. Department of the Treasury's criminal enforcement arm announced Wednesday that it has signed off on an information-sharing agreement with California's insurance commissioner — part of the agency's effort to get the insurance industry to comply with anti-money laundering regulations.
The partnership with the Financial Crimes Enforcement Network will allow California's insurance regulators to share information on insurance companies that lack the required anti-money laundering procedures or programs and alert the federal agency to possible fraud, officials said.
FinCEN, which is tasked with regulating banks,...
Treasury, Calif. Strike Deal On Insurance Info Sharing
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