AMLAWARE | Conclusion
AMLAware International – Anti-Money Laundering compliance training programs meeting regulatory requirements for insurance companies, the financial services industry, and the banking sector worldwide.
Anti-money laundering, training, training program, training programs, money laundering, insurance, finances, financial industry, banking sector, international, international anti-money laundering
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Conclusion

17 Jun Conclusion

Topic Progress:

Suspicious activity must be reported whenever the insurer has knowledge or suspicion that money laundering is taking place or when there is knowledge or reasonable suspicion that property is the proceeds of drug trafficking or of any other indictable offense.

 

  • Filing of the STR fulfills the insurer’s legal duty in this regard.
  • The process for reporting suspicious transactions is straightforward and direct.
  • All Hong Kong insurance providers have developed procedures for the reporting of such activities.