FFIEC BSA/AML Examination Manual

Insurance — Overview

• Monitoring, including the review of early policy terminations and the reporting of unusual and suspicious transactions (e.g., a single, large premium payment, a customer’s purchase of a product that appears to fall outside the customer’s normal range of financial transactions, early redemptions, multiple transactions, payments to apparently unrelated third parties, and collateralized loans). • Recordkeeping requirements.

FFIEC BSA/AML Examination Manual

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2/27/2015.V2