Workshop Highlights Anti-Money Laundering and Combating Financing Terrorism for Insurance Brokers

In continuation of the endeavors to enhance the anti-money laundering and combating financing terrorism efforts in the sectors regulated by the Capital Market Authority and as part of the companies’ attentiveness to the importance of training the employees on this matter, the CMA organized a workshop titled                 “Highlights on Anti-Money Laundering and Combating Financing Terrorism” for insurance brokers targeting the employees acting as compliance officers of insurance brokers.

The workshop acquainted the participants with the applications related to insurance brokers and the role of the Financial Action Task Force (FATA) as well as the decisions of the CMA on the implementation of the Anti-Money Laundering and Combating Financing Terrorism Law. The workshop discussed the level of risks focusing on the risks of life insurance and the  due diligence measures beside keeping records of information, immediate reporting and provision of information, risk assessment report and implementation of  anti-money laundering and combating financing terrorism policies, directives and procedures.

It is worth to note the workshop is part of series of programs and workshops related to anti-money laundering and combating financing terrorism within the plan of the Anti-Money Laundering and Combating Financing Terrorism Department in this year to complete the awareness campaigns of last year as a set of workshops were executed beside many awareness events.