Guidelines
 Published Date: 13 May 2019

Guidelines on Prevention of Money Laundering and Countering the Financing of Terrorism - Direct General Insurance Business, Reinsurance Business, and Direct Life Insurance Business (Accident & Health Policies)

Guidelines on processes and controls to prevent money laundering and countering the financing of terrorism, in relation to general insurance and reinsurance business as well as business related to accident and health policies.
Applies to: Direct Insurer (Life) , Direct Insurer (General) , Direct Insurer (Composite) , Reinsurer (Life) , Reinsurer (General) , Reinsurer (Composite) , Captive Insurer , Lloyd's Asia Scheme , Financial Holding Company (Insurance)
View Document Guidelines on Prevention of Money Laundering and Countering the Financing of Terrorism - Direct General Insurance Business, Reinsurance Business, and Direct Life Insurance Business (Accident & Health Policies) (579.7 KB)

These guidelines apply to all insurers.

    The guidelines are organised into four key areas:
  • Management Oversight, Policies and Training;
  • Customer Due Diligence and Screening Procedures;
  • Record Keeping and Documentation; and
  • Assessment and Reporting of Suspicious Transactions.