Money Laundering in the insurance industry

Read or download PDF of Overview Chapter here

By Marcela Blanco and Javier Coronado.

Recent U.S. Government enforcement actions against executives of insurance companies for their alleged involvement in the laundering of ill-gotten funds, including the proceeds of corruption, highlight the exposure that the insurance industry has to money laundering risks, and the importance of implementing compliance programs that are effective to prevent, detect, and react appropriately to violations of anti-money laundering and combating the financing of terrorisms-related (AML/CFT) laws.