GLOBAL FEDERATION OF INSURANCE ASSOCIATIONS (GFIA) POSITION PAPERS ON AML/CFT

The GFIA has a number of useful and/or interesting papers on its website, including the following –

Position paper on the application of AML to general insurance

This Paper from 6 May concludes that there is no evidence to justify extending AML/CFT rules to general insurance.

https://gfiainsurance.org/mediaitem/d3e45eff-af3c-4d76-9b98-251007fde95b/GFIA%20position%20paper%20on%20AML%20and%20general%20insurance.pdf

Comments on the FATF public consultation on the draft Amendments to Recommendation 24

This paper from 24 August contains the GFIA response to possible changes to the Recommendation on transparency and beneficial ownership.

https://gfiainsurance.org/mediaitem/7dcf28f5-6393-4e3b-9ac7-034df148ccf5/GFIA%20response%20to%20FATF%20consultation%20on%20revisions%20to%20Recommendation%2024.pdf

Response to IAIS consultation on draft revised Application Paper on Combatting Money Laundering and Terrorist Financing

This paper from 16 July contains the GFIA response to the draft from the International Association of Insurance Supervisors (IAIS) of 17 May on how money laundering and terrorist financing can occur within the insurance sector, and on measures to mitigate the associated risks. 

https://gfiainsurance.org/mediaitem/efb42c30-011f-4c69-93ee-d1b134f2074b/GFIA%20response%20to%20IAIS%20consultation%20on%20draft%20application%20paper%20on%20CML%20and%20TF.pdf

https://www.iaisweb.org/page/consultations/closed-consultations/2021/draft-revised-application-paper-on-combating-money-laundering-and-terrorist-financing

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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