Insurance Supervisors Target Anonymity In AML Revision
Law360, London (May 18, 2021, 4:58 PM BST) -- A group representing insurance regulators warned on Tuesday against anonymity linked to life insurance products as it released a draft of its recommendations for the sector on tackling money laundering.
The International Association of Insurance Supervisors said it has revised its existing paper on anti-money laundering and counter-terror funding following updates from the Financial Action Task Force, the global anti-money laundering body.
The group has launched a public consultation on its revised "application paper," which closes in July this year, and is aimed at establishing good practice among insurance supervisors. The document sets out recommendations for the sector and examples of...
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