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Technology / AI and automation

Actimize delivers AML to insurance industry

New rules, handed down by the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) at the end of October, require life insurance companies to establish formal anti-money laundering programs and file suspicious activity reports.

In response Actimize says its AML solution provides true end-to-end capabilities with transaction monitoring, government watch list screening, CIP account opening procedures, case management and reporting. The solution incorporates proven methodologies and models tailored to insurance industry activities such as policy termination, policy surrender, and beneficiary assignments.

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CBR Staff Writer

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