North American Important Reminders About Customer Requirements Around the Bank Secrecy Act
- March 16, 2023
- Carrier News, Life Insurance, North American
Insurance companies that issue or underwrite covered products that may pose a higher risk of money laundering must comply with the Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”) program requirements. A covered product includes:
- An annuity contract (other than a group annuity contract)
- A permanent life insurance policy (other than a group life insurance policy)
- Any other insurance product with cash value or investment features
- March 16, 2023
- Benkis Barrueta
- Carrier News, Life Insurance, North American
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