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Course Overview
The insurance sector faces growing exposure to money laundering, fraud, and financial crime. With a highly intensive and complex legislative period ahead, regulatory expectations have never been higher.
This course equips you with the knowledge and skills to:
- Build insurance-specific AML knowledge - Go beyond generic AML training with content tailored to the real risks and scenarios you encounter in your role, including life, general, reinsurance, and intermediary arrangements.
- Develop regulatory confidence - Understand the legal and regulatory framework that governs your firm, from the international standards such as FATF and the EU through to the national legislation and sector-specific obligations that apply to the insurance sector.
- Apply practical skills immediately - Learn to recognise red flags in customer behaviour, payment patterns, and third-party involvement, and understand your reporting and escalation obligations in real insurance contexts.
- Navigate sanctions and financial crime overlaps - Understand your sanctions obligations and the relationship between fraud and money laundering, two areas that frequently intersect in the insurance sector.
- Support a strong compliance culture - Every role has a responsibility, from underwriting and claims to customer services and broker management. This course ensures you know when and how to act.
Course Content
- Money laundering fundamentals - Understand what money laundering is, how it works, the three-stage model, and the role of the insurance sector within the wider AML ecosystem.
- Terrorist financing, proliferation financing and sanctions - Explore how these threats operate, how insurance products can be exploited, and the key sanctions regimes you need to understand.
- International AML frameworks - From the UN and FATF to EU Directives and national legislation, gain clarity on the global and UK regulatory landscape and what it means for insurance firms.
- Vulnerabilities across financial services and insurance - Examine how the insurance sector is specifically exploited, across life, general, reinsurance, and intermediary arrangements, and what makes it attractive to money launderers.
- Risk-based approach and customer due diligence - Develop your understanding of CDD in insurance contexts, including underwriting, policy administration, and claims management, and know when to apply simplified or enhanced due diligence.
- Suspicious activity detection and reporting - Recognise the red flags specific to insurance, understand your legal obligations to report, and know how to handle tipping-off risks.
- AML programme management and compliance culture - Understand board and senior management obligations, AML policies and procedures, and how to build AML awareness across insurance distribution networks.
Benefits
Raise your professional profile by gaining an internationally recognised certification awarded in association with Alliance Manchester Business School, the University of Manchester.
Prerequisites
This ICA Certificate is designed for professionals working across the insurance sector who need a solid foundation in AML — whether they encounter financial crime risk directly or as part of their wider compliance responsibilities. It is particularly suited to:
- Compliance and Risk Officers and Analysts
- AML, KYC and CDD Officers and Analysts
- Fraud Analysts and Investigators
- Underwriters
- Claims and loss adjuster professionals
- Broker Executive and Relationship Managers
The fee for ICA membership will be added separately to your basket when you enrol online for this course.
Assessment
Assessed by a one-hour online multiple-choice exam that you can take at any point during your studies.
Course Tutor
The International Compliance Association (ICA)
The International Compliance Association (ICA) is the leading professional body for the global regulatory and financial crime compliance community. It is also the provider of internationally recognised, professional, certificated qualifications in anti-money laundering; governance, risk and compliance and financial crime prevention. Being a member of the ICA, a global community, is a mark of prestige and shows that you have reached a standard of excellence in your professional career.
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