Insurers: FATF standards need clarity, are too focused on banks

Insurers complain FATF standards too focused on banks

Insurers from around North America, South America and Europe have demanded more clarification on proposals from the Financial Action Task Force (FATF) as part of its recently closed review on standards. The consultation on principles of combatting money laundering and terrorist financing from FATF closed on January 7 prior to the beginning of the fourth round of mutual evaluations. However, the International Network of Insurance Associations (INIA), which represents five national and internat