In the dynamic landscape of insurance, combating the pervasive threat of money laundering is a multifaceted challenge. As the regulatory landscape evolves and financial crimes become increasingly sophisticated, the need for proactive measures becomes more urgent. Before we delve into four innovative safeguards, let’s address three critical challenges faced by the industry in its ongoing […]
In the ever-evolving landscape of banking, insurance, and regulatory industries, the demand for fortified Anti-Money Laundering (AML) programs and systems has surged since the pre-COVID era. Recent events, like the high-profile US$1.3 billion money laundering probe in Singapore, have sounded a clear alarm, highlighting the need for robust AML strategies even in developed nations. It becomes […]