FATF recommends more study on money laundering via insurance
Anti-money laundering
The report notes that although the worldwide insurance industry generates premiums in the range of $2.4 to $2.6 trillion, little work has been done on how money launderers use this sector’s products for their own ends. "The experts viewed the insurance sector as potentially vulnerable to money laundering because of the size of the industry, the easy availability and diversity of its products and the structure of its business," the report said. Although the International Association of Insurance
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