Introduction
This course is designed for insurance and financial intermediaries to understand the latest statutory and regulatory requirement regarding Anti-money Laundering and Counter-Terrorist Financing (AML & CTF) for insurance and financial industry.
Objectives:
To enable participants to understand and its applications for:
-The statutory and regulatory requirement imposed on Insurance intermediaries by Anti-Money ---Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance and OCI’s Guidance Note 3 & 3A, with the highlights of the framework of Risk-Based Approach and Customer Due Diligence
Who Should Attend:
-Insurance intermediaries and persons responsible for advising on financial products
-Executives especially responsible for compliance and/or marketing promotion
Course Contents:
-How to establish general policies and procedure for AML & CTF legislations and regulators’ guidelines
-Customer due diligence
。Risk-based approach
。Introduction to “Politically Exposed Persons”
。Risk assessment and periodic re-assessment
-Record-keeping
-Suspicious Transaction Reporting (STR) procedure
-Staff training requirement underOCI’s Guidance Note 3
-Self-Assessment on Compliance with AML Guideline (Broker)
*This programme is co-organised with Professional Insurance Brokers Association (PIBA) and will be recognised as IA-CPD credits.
