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#1744626 - 09/27/12 12:39 PM Insurance Companies
cheech Offline
100 Club
Joined: Jun 2010
Posts: 207
Chatsworh PA
1. Is it true all insurance companies should have a BSA/AML program?

2. If so, should banks be verifying that as part of EDD? We do that with MSB's and Precious Metals Dealers.

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BSA/AML/CIP/OFAC Forum
#1744709 - 09/27/12 02:31 PM Re: Insurance Companies cheech
MagicCity Offline

Power Poster
MagicCity
Joined: Apr 2003
Posts: 3,003
Fort Lauderdale, Florida
I believe that Insurance companies are required;
It was in the pipeline but I would have to check if it is in effect now.
We ask our MSB customers only if they have a BSA program.
We do not review the documents,and I do not think it is the bank's place to review them.

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