aml requirements for insurance companies

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Did you know that in the United Kingdom, the Association of British Insurers estimates that insurance fraud costs the industry around £2 billion per year? Well, insurance companies are particularly at risk of financial crimes such as money laundering because of the movement of a significant amount of funds toContinue Reading

AML KYC

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In: Business

Anti-money laundering (AML) is the term used to describe the legal measures taken to prevent criminals from using the banking system to launder money. The purpose of AML is to protect the financial system from being used to finance terrorism and other criminal activities. Banks and other financial institutions areContinue Reading