About AML for Insurance Professionals
The importance of Anti-Money Laundering (AML) measures cannot be overstated across the globe spanning various business segments. In today’s interconnected world, combating financial crime is crucial to maintaining the integrity of financial systems. Insurance companies, dealing with vast sums of money, are particularly vulnerable to the risks of money laundering. As such, implementing robust AML practices is imperative to safeguard against illicit activities and ensure compliance with regulations.
In response to the escalating risk, governments and international authorities have enacted stringent AML regulations, placing legal obligations on insurance firms. Non-compliance carries severe penalties, including fines and potential imprisonment. In India, the Insurance Regulatory and Development Authority of India (IRDAI) has issued comprehensive guidelines, underscoring the importance of rigorous AML measures across all insurance sectors.
To effectively mitigate this risk, insurance professionals need to be comprehensively trained about Anti-Money Laundering concepts, risks, roles & responsibilities, amongst other things. Such training equips us with the necessary knowledge and skills to navigate the complexities of tracking cash trails and identifying suspicious activities.
Join this course to enhance your expertise and contribute to a more secure financial landscape.
Certificate: Earn a Certificate upon successful completion
Flexible Timeline: Learn in accordance with your schedule
100% Online: Start now and learn from anywhere
Learning Hours: Approximately 5 hours to complete.
Learning Medium: English
Who should take this course
• Employees of insurance companies in India – Life, General and Health
• Insurance agents and distributors
• Staff working in any regulatory, self-regulatory organisations
• Professional service providers – Risk management consultants, audit and legal professionals
• Professionals working in any other reporting entity – banks, securities, housing finance companies.
• Any individual wanting to expand knowledge and explore new opportunities in areas of AML in specific and Compliance in general.
Staff employed in client onboarding, client relationship, operations, product, risk, compliance and internal audit will find it very useful.
Course Content
In this comprehensive course “AML for Insurance Professionals”, we delve into essential modules designed to empower professionals in recognizing, investigating, and reporting money laundering. The training session has 10 modules covering:
• Introduction
• What is Money Laundering
• Key Concepts
• IRDAI – AML Master Circular
• Know Your Client & Customer Due Diligence
• Risk-Based Approach
• AML Risks in Insurance
• Red Flags in Insurance
• Transactions Monitoring and Suspicious Transaction Reporting
• Designing a Robust AML/CFT Framework
Learning Hours and Access Period
This course has approximately 5 hours of learning content including videos, module quizzes, and assessments. To complete the course, you will be given access to the course content for 60 days from the date of your registration. If you are not able to complete the course within the access period of 60 days, you can re-register for the course and start from the beginning.
Assessment and Certificate
Candidates will be tested through an online Multiple-Choice Question-based assessment of 30 minutes immediately after the course. Candidates will need to score a minimum 60% in the online assessment to earn the certification. After successfully passing the assessment, candidate will be able to download the course Certificate.
Course Fee
The course fee is Rs. 3000 plus applicable taxes per candidate.
FAQs
1. How to register for the course?
To register for the course, click on the register button on the top right corner, next to FAQs.
2. How to pay the course fee?
During the registration, you will be prompted to pay online using Net Banking, Debit or Credit Cards, UPI, and Wallets.
3. What is the duration of the course?
The course has approximately 5 learning hours of content.
4. What is the access period for the course?
You will get access to the course content for 60 days from the date of your registration.
5. What if I am unable to complete the course within 60 days?
If you are not able to complete the course within the access period of 60 days, you can re-register for the course and start from the beginning.
6. Can I access the content in my mobile?
Yes, the course can be accessed through the mobile devices.
7. Can I download the content?
No, it cannot be downloaded.
8. Is there any proctored examination for this course?
No. However, there will be an end course MCQ type assessment.
9. Are there any passing criteria for this assessment?
A minimum of 60% marks is required to pass the assessment.
10. How will I get my certificate?
After successfully completing the course, you will be able to download the course Certificate.
11. How to get more information regarding this course?
For more information you can download the course prospectus, email elearning@nism.ac.in or call 02192-668492/93
Helpdesk: 02192-668492/8493
Email: elearning@nism.ac.in