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Money Laundering Challenges Within the Insurance Sector

Financial Crimes

Ravi Chandel


Money laundering is a severe problem for the global economy, with the sums involved variously estimated at between 2 and 5 percent of global GDP. Insurance institutions are required by regulators to help combat money laundering and have invested billions of dollars to comply. 

Insurance organizations are facing ever evolving, sophisticated methods deployed by money launderers to  avoid detection. The insurance organization requires advanced technical platforms which provide compliance officers the ability to leverage data, analytics, and advanced features to comprehensively mitigate AML/CTF risk.

The white paper presents a feasible, functional, technical and repeatable approach to implementing a AML/CTF solution which can consistently generate high quality alerts, provide the ability to investigate alerts in a single platform and satisfy ever changing regulatory requirements.

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