IAIS is consulting on changes to its “application paper” on AML and CFT in the insurance industry. The paper was originally published in 2013, and IAIS has revised it in light of various FATF updates and specifically FATF’s revised guidance for a risk-based approach in the life insurance sector.
IAIS has provided a redline of the changes. Unsurprisingly, much of the paper has in fact been rewritten.
It asks for comments on its revised version by 17 July.