- All insurance brokers are covered by AML-CFT, unless they meet the strict criteria of ancillary activity;
- A good understanding of risks is essential to the implementation of vigilance obligations;
- All brokers must establish an appropriate organizational structure, including AML-CFT training, the appointment of an AML-CFT officer, and the registration of a contact person with Tracfin.
- Brokers' attention is drawn to a number of recent changes in customer knowledge, for which they play an essential role;
- A system for monitoring operations is mandatory, even in cases of low risk;
- Discussing suspicions with the insurer does not exempt the broker from filing a report with Tracfin;
- Brokers, whether or not they receive customer funds, are obliged to implement the freezing of assets and the prohibition on making economic resources available;
- Brokers must set up an appropriate internal control system.
But how can you monitor sensitive transactions and people (Assets Freeze,PEP, ...) without it becoming time-consuming or economically unrealistic for your firm?
The vocation of AP Solutions IO's"turnkey" tools is to detect sensitive people or transactions in a productive, traceable & explainable, fluid & rapid way, in order to comply with the regulations and reporting obligations to which you are subject.
100% target Regulatory Compliance with drastically reduced processing time thanks to a formidable detection and reduction engine, automated end-to-end, with over 70 reduction criteria and real-time response!
With our full API SaaS application, the barriers to entry are low, and the cost of operation particularly economical. It's easy to use and intuitive to use !
Thefull service subscription depends on the number of third parties to be filtered, and the type of lists selected for filtering, strictly limited to your risk appetite. Invoicing is based on the number of names filtered, regardless of the number of queries on a given name. A significant saving when you consider that you need to screen your portfolio of Third Parties on a daily basis... The 12-month subscription, renewable, offers a free exit during the first 3 months!
For more information, please visit the AP Solutions IO website: https: //www.ap-solutions.io
To find out more about your obligations as a broker, see the ACPR publication.
