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Ark. Reminds Insurers of Anti-Money Laundering Responsibilities

Texas / South Central News • April 28, 2006
The Arkansas Insurance Department issued a reminder to insurers operating in the state of the upcoming May 2, 2006, effective date for the establishment of anti-money laundering programs. The ...

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Subject: RE: Why not automate this?

Posted On: April 28, 2006, 2:08 pm CDT
Posted By: MUD
Comment:
So it is now encumbent on insurance companies to become law enforcement officers. The costs to set up these programs will be huge. Life insurance, annuities, premiums, etc. come-on. Why would a terrorists go to such trouble to purchase an insurance policy that would not pay upon his suicidal death or his death while committing a terroristic act. Same goes for annuities. What the terrorists would have to wait until 59 1/2 to commit a violent crime in order to be able to take money out without penalties. I know there or many more types of annuities with short surrender periods; I am being just a little sarcastic.
I can see the future now...ok you passed your insurance license test now it is time for basic training- eight long weeks with nothing but you and your M16!!!!!
Subject Posted By Posted On
RE: Why not automate this? MUD
Apr 28, 2006, 2:08 pm
Why not automate this? James Taylor
Apr 28, 2006, 12:13 pm
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