Money laundering plays a fundamental role in facilitating the ambitions of the drug trafficker, the terrorist, the organized criminal, the insider dealer, and the tax evader, as well as the many others who need to avoid the kind of attention from the authorities that sudden wealth from illegal activities brings. By engaging in this type of activity, criminals hope that their proceeds will be beyond the reach of asset forfeiture laws. Financial institutions such as insurance companies are at the forefront of the battle against the money launderers. Under current legislation, insurance companies are responsible for policing their financial dealings and reporting any suspicious transactions. This course will dwell upon the new regulatory environment of the insurance industry vis a vis money laundering, specifically the USA Patriot Act 2001. The course aims to highlight the key aspects of the USA Patriot Act namely, the Suspicious Activities Report (SAR) and the Know Your Customer provision (KYC).
Upon completion of the course, the student will be able to:
- Understand the scope and effect of Money Laundering.
- Understand the Process and Methodology of Money Laundering.
- Understand the impact of money laundering on the Operations and responsibilities of Financial Institutions.
- Understand the regulatory environment vs. Money Laundering for the securities industry.
Anti-Money Laundering - Ohio Department of Insurance
- Ohio Department of Insurance
- Website URL:
- Email Address:
- 50 W. Town Street 3rd Floor - Ste. 300
End of Course Instructions
Congratulations! You have successfully completed your continuing education course. 360training or a 3rd party affiliate of 360training will report your credit hours to the Department of Insurance within 15 days. You may also now print your completion certificate online. Keep in mind that certificates of completion must be kept on file for 2 years.
You will not be required to pass the quizzes to move on to the next lesson.
You will be required to pass the final exam with a 70% in order to receive course credit.
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