LIMRA/NAILBA Anti-Money Laundering Training Program
The U.S. Treasury Department recently adopted anti-money laundering rules & regulations for the banking and insurance industry. If you sell insurance products with an investment component or products that accumulate cash, you must be trained to recognize possible money laundering activities.
LIMRA offers free access to an Anti-Money Laundering (AML) Training Program that satisfies the rules & regulations of the U.S. Department of the Treasury. The AML program is available on the LIMRA website and has been widely endorsed by many of the life insurance carriers that use independent producers.
The web-based training module was developed by LIMRA in conjunction with insurance compliance professionals. It is available on demand and requires 30 to 45 minutes to complete. The registration page allows you to designate your carrier associations, so that your course results can be reported to your designated insurance carriers. You may be offered additional carrier-specific courses based upon your registration information.
What the Training Covers:
What is money laundering and why do I need to know about it?
How does money laundering occur in the insurance and securities industries?
What are my responsibilities to prevent money laundering?
What are common "red flags" to identify possible money laundering?
What should I do if I detect suspicious activity?
What are examples of insurance and securities money laundering?
LIMRA / AML Training Video