Brazilian agency hears more ML complaints
ANTI-MONEY LAUNDERING
Eighty four percent of the complaints involved annuity and other policies, a further 12% were in cases related to capitalisation bonds and 4% to pension accounts. The numbers of such reports have risen rapidly over the past five years. In 2001, there were just seven reports. That rose to 870 in 2003, and 2,476 in 2005.
Regulatory change
The trend to report more unusual transactions comes ahead of a change in the regulations covering insurance companies, says Marcia Klinke, a director in the
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