AML Insurance Interview with Claude Baksh
Life insurance companies, like banks, credit unions and brokers or dealers, face the risk of being targeted by money launderers, terrorists and fraudsters. Regulators have recognized this risk and now require life insurance firms to establish anti-money laundering (AML) programs and file regulatory reports if suspicious activity is found for permanent life insurance policies, annuity contracts, and any other insurance products with features of cash value or investment features.
Watch our video interview with Claude Baksh, Money Laundering Reporting Officer at Sun Life Financial and listen to what he has to say about the following questions:
- Why did Sun Life Financial decide to move to a single technology solution to support its AML operation?
- Could you describe the structure of your team and how you manage this project?
- What criteria was important in selecting a vendor in AML technology for Sun Life Financial?
- What are some of the challenges that you see around list filtering?
- From your experience on this project, what advice do you have for insurance companies looking and implementing an AML technology solution?
- and more ...
For more information about AML Insurance, please download our AML Insurance white paper here.