Best Practice: Consider These Suggestions for Reviewing Your AML Program A new Webcast produced by the Financial Industry Regulatory Authority is advising broker-dealers how to prepare for anti-money laundering exams – and also has ideas insurance companies can use to check and improve their own AML programs....
Industry Calls Consumer Report ‘Same Old Tired Arguments’ A Consumer Federation of America report released last week charged that insurance companies amassed record profits in 2007, but paid for fewer claims and systematically overcharged their customers. But insurers are greeting the report with universal scorn....
FinCEN Shows It’s Serious About AML Violations: Money Service Business Faces $25 Million Fine Here’s one more reminder that the Financial Crimes Enforcement Network takes anti-money laundering seriously ... regardless of the industry.One of the largest money service businesses in the country could end up paying the Justice Department as much as $25 million for AML violations....
Ohio’s Peg Ising Retiring Feb. 1 Peg Ising, a noted insurance regulator, is retiring at the end of the month after 25 years at the Ohio insurance department....
Compliance professionals planning salary discussions might want to temper their requests this time around. The leaders of top insurance companies said at a conference last week that 2008 could be “a more marginal year,” despite the relatively light catastrophes and presence of other favorable indicators in 2007....
