... 3. Description of nature of business and services to be provided by the licensed insurance broker company The client agreement should set out a description of the business and services to be provided by the licensed insurance broker company and this should include the following matters: (a) a...

... Chatbot’s limitations, how it should be used, the data set it is trained on and how that data is stored, used and how long it is kept. Adequate risk mitigation, ongoing monitoring, reporting controls and contingency plans would also need to be in place throughout its deployment. Careful consideration...

... • Large IIs have policies and procedures, and internal systems and controls to mitigate ML/TF risks • “Three lines of defense” approach (business, compliance and audit) • Customer risk scoring model (e.g. low/medium/high risk, or a numerical score), and apply mitigating measures on a risk based approach...

... • Large IIs have policies and procedures, and internal systems and controls to mitigate ML/TF risks • “Three lines of defense” approach (business, compliance and audit) • Customer risk scoring model (e.g. low/medium/high risk, or a numerical score), and apply mitigating measures on a risk based approach...

... • Large IIs have policies and procedures, and internal systems and controls to mitigate ML/TF risks • “Three lines of defense” approach (business, compliance and audit) • Customer risk scoring model (e.g. low/medium/high risk, or a numerical score), and apply mitigating measures on a risk based approach...

... requirements will be set out in the Guideline on the Fit and Proper Criteria for Licensed Insurance Intermediaries and soft consultation of the Guideline to be conducted later this year. Besides review of the minimum education requirements, we have also reviewed the CPD requirements. We are glad to see a...

... requirements will be set out in the Guideline on the Fit and Proper Criteria for Licensed Insurance Intermediaries and soft consultation of the Guideline to be conducted later this year. Besides review of the minimum education requirements, we have also reviewed the CPD requirements. We are glad to see a...

... Mongolia and Iceland who requested to continue on their original schedule. The FATF reviewed and virtually met with these two jurisdictions and the result of these discussions is set out in the FATF’s updated statement, which can be found on the website of the FATF (https://www.fatf- gafi.org/publications...

... individual insurance agent’s role, however, is not to collect premium from the policyholder directly, or to serve as a conduit through which a policyholder should pay premium.  An individual insurance agent is, after all, an individual with a personal (not a business) bank account, who is not set...

... behalf so they could benefit from the fictitious premium discount. A third set of lies followed, as the agent sought to explain away why the claims were not being paid. The ethical line between right and wrong is a clear and bright one. Once crossed, however, it blurs and darkens making it...