Insurance

Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) in Insurance Training

Introduction

The insurance sector has become an emerging target for illicit financial activities, making it imperative for professionals to understand Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations. Training Course on Anti-Money Laundering (AML) & Counter-Terrorism Financing (CTF) in Insurance is designed to provide comprehensive, hands-on knowledge and skillsets to insurance professionals to detect, prevent, and report suspicious transactions in line with global compliance standards. Emphasis is placed on real-world application, legal frameworks, regulatory compliance, and risk-based approaches to financial crime prevention.

Through this interactive and case-based learning experience, participants will gain critical insights into how money laundering and terrorist financing impact the insurance industry. With a strong focus on international best practices, compliance frameworks, and digital fraud threats, this course equips learners to navigate the ever-evolving regulatory landscape with confidence and integrity.

Programme Curriculum

Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) in Insurance Training

Introduction

The insurance sector has become an emerging target for illicit financial activities, making it imperative for professionals to understand Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations. Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) in Insurance Training provide comprehensive, hands-on knowledge and skillsets to insurance professionals to detect, prevent, and report suspicious transactions in line with global compliance standards. Emphasis is placed on real-world application, legal frameworks, regulatory compliance, and risk-based approaches to financial crime prevention.

Course Objectives

Understand the fundamentals of AML and CTF regulations in the insurance industry.
Identify typologies of money laundering and terrorist financing methods specific to insurance.
Apply risk-based approaches to detect and mitigate AML/CTF threats.
Comply with global AML regulations and FATF Recommendations.
Recognize red flags in insurance products and policyholder behavior.
Conduct enhanced due diligence (EDD) and customer due diligence (CDD) procedures.
Navigate the legal obligations under KYC, KYB, and suspicious transaction reporting (STR).
Integrate anti-fraud technology and AI-based tools for AML compliance.
Develop internal policies, controls, and procedures to combat financial crime.
Train insurance staff on AML/CTF awareness and compliance protocols.
Analyze case studies of AML/CTF failures and successes within insurance firms.
Collaborate with regulatory bodies and financial intelligence units (FIUs).
Prepare for regulatory audits and demonstrate AML program effectiveness.

Target Audience

Insurance compliance officers
Underwriters and claims managers
Risk management professionals
Internal auditors and legal teams
Customer onboarding and KYC teams
Insurance agents and brokers
Financial crime analysts
Regulatory and supervisory authorities

Course Duration: 10 days

Course Modules

Module 1: Introduction to AML and CTF in Insurance

Definition and significance of AML/CTF
Overview of global AML regulations
Importance in the insurance sector
Emerging threats and vulnerabilities
Roles and responsibilities in insurance firms
Case Study: The use of life insurance for laundering funds

Module 2: Global AML & CTF Legal Frameworks

FATF Recommendations
EU AML Directives and US Patriot Act
Role of the United Nations
Cross-border compliance challenges
Country risk assessment
Case Study: Regulatory breach by a global insurer

Module 3: Understanding Insurance-Specific Money Laundering Risks

Life vs. general insurance vulnerabilities
Single premium policies
High-risk customers
Reinsurance fraud
Use of offshore insurance entities
Case Study: Money laundering via annuity contracts

Module 4: Know Your Customer (KYC) and Customer Due Diligence (CDD)

KYC documentation and verification
Customer risk rating
Beneficial ownership identification
Enhanced due diligence
Ongoing monitoring
Case Study: Incomplete CDD and regulatory penalties

Module 5: Detection of Suspicious Transactions

Identifying red flags
Transaction monitoring techniques
Suspicious indicators in claims and premiums
Behavioral anomalies
Use of automated detection tools
Case Study: A flagged policy that led to criminal conviction

Module 6: Reporting Obligations and STR Filing

Legal obligation to report suspicious transactions
Structure and content of an STR
Internal reporting systems
Timeline compliance
Role of FIUs
Case Study: Successful prosecution following timely STR

Module 7: Risk-Based Approach to AML/CTF

Components of a risk-based approach
Risk assessment frameworks
Risk categorization of products/customers
Risk mitigation strategies
Tailoring controls to risk levels
Case Study: Failures from generic risk assessments

Module 8: Internal Controls and Governance

Governance structure for AML
Roles of board and compliance committees
Internal AML policies and manuals
Record-keeping obligations
Whistleblower mechanisms
Case Study: Weak governance leading to regulatory sanctions

Module 9: Role of Technology in AML Compliance

AML software solutions
Artificial intelligence and machine learning
Transaction monitoring systems
Case management platforms
Digital KYC/Onboarding tools
Case Study: Automation preventing policy laundering

Module 10: AML Training and Culture

Importance of AML culture
Staff training schedules
Interactive training methodologies
Compliance communication
Creating a whistleblower-friendly environment
Case Study: Impact of AML culture on insurance firm success

Module 11: Role of Audits in AML

Internal vs. external audits
Audit tools and checklists
Compliance gap analysis
Reporting audit findings
Remediation actions
Case Study: Internal audit unveiling systemic failures

Module 12: Product and Service Risk Assessment

Risk evaluation of insurance products
Risk assessment during product design
Factors increasing product risk
High-risk customer profiles
Documentation and approval processes
Case Study: High-risk policy exploited for laundering

Module 13: International Collaboration and Data Sharing

Importance of cooperation with regulators
Mutual legal assistance treaties (MLATs)
Data privacy vs. transparency
Information exchange protocols
Use of Egmont Group and FIUs
Case Study: Joint investigation leading to terrorist fund disruption

Module 14: Trends and Emerging Threats in AML/CTF

Cryptocurrency and digital asset laundering
Trade-based money laundering in insurance
ESG and AML risks
AI and deepfake threats
Trends in regulatory enforcement
Case Study: Crypto-funded life insurance laundering

Module 15: Final Assessment and Capstone Simulation

Interactive AML case simulation
Role-playing AML compliance scenarios
Assessment of STR filing
Discussion and debrief
Certificate issuance
Case Study: Learner simulation outcomes

Training Methodology

Instructor-led live webinars and workshops
Interactive case-based discussions and breakout sessions
Simulation exercises and role-playing
Hands-on tools and compliance templates
Quizzes, assessments, and certification tests

Register as a group from 3 participants for a Discount

Send us an email: info@fineskilltrainingcenter.org or call +254769199797

Certification

Upon successful completion of this training, participants will be issued with a globally- recognized certificate.

Tailor-Made Course

We also offer tailor-made courses based on your needs.

Key Notes

a. The participant must be conversant with English.

b. Upon completion of training the participant will be issued with an Authorized Training Certificate

c. Course duration is flexible and the contents can be modified to fit any number of days.

d. The course fee includes facilitation training materials, 2 coffee breaks, buffet lunch and A Certificate upon successful completion of Training.

e. One-year post-training support Consultation and Coaching provided after the course.

f. Payment should be done at least a week before commence of the training, to Fineskill Training Center account, as indicated in the invoice so as to enable us prepare better for you.

Programme Fee

Duration: 10 Days

Method: Online or Physical

Online Price: $2,000

Physical Price: $3,000

Certification: Accredited Certificate

View Available Dates 📄 Download Course Outline (PDF)

Available Sessions

Location

Month

Year

Nov 16 2026

16 Nov — 27 Nov 2026

💻 Online / Virtual session

Online $2,000