Anti-Money Laundering - Ethical Decision Making For Insurance Producers - 3 Hours*

This anti-money laundering course aims to educate producers on their responsibilities as they relate to the USA PATRIOT Act. In their careers, producers must fulfill obligations and responsibilities under the laws designed to limit money laundering. 
 
To that end, producers will study various anti-money laundering laws that have been enacted, steps in money laundering, and red flags that may crop up during business that may lead them to suspect money laundering. 
 
Producers will also look at the reports a company may need to file (Suspicious Activity Reports) and statistics regarding the types of reported suspicious activities. They will also learn about Specially Designated Nationals, individuals or companies whose assets are blocked and with whom U.S. persons are generally prohibited from dealing. 

Learning Objectives 

The purpose of this course is to educate the producer on their responsibilities as they relate to the USA PATRIOT Act. Upon completion of this course, a producer will be able to: 

• Explain the 3 phases of money laundering 

• Identify the types of insurance products most likely to be employed in a money laundering scheme 

• Explain the requirements of a Customer Identification Program 

• Explain the financial services obligations to conduct due diligence and ongoing monitoring of its customers 

• Explain a producer’s responsibility for reporting suspicious activity; and 

• Explain the red flags of money laundering as they relate to the utilization of insurance products 

Complete license renewals for all major lines: Life and Health and Property and Casualty