My Skill Lab
Insurance · Compliance, AML/CFT & Regulatory Reporting FinanceIntermediate

Compliance, AML/CFT and Regulatory Reporting for Insurers

Meet the Insurance Act, NIA directives and FIU-Nepal obligations with confidence.

Taught by My Skill Lab Insurance Faculty · Insurance Practitioners

What you'll learn

  • Map the main laws and Nepal Insurance Authority directives that govern an insurer's compliance programme.
  • Apply customer due diligence, enhanced due diligence for PEPs and high-risk customers, and sanctions screening.
  • Recognise insurance-specific money laundering red flags and escalate them correctly.
  • Explain the threshold and suspicious transaction reporting process to FIU-Nepal through goAML.
  • Maintain a regulatory reporting calendar and a compliance monitoring plan.

About this course

For compliance officers, branch managers and operations staff at Nepali insurers. Covers the compliance framework under the Insurance Act 2079 and Nepal Insurance Authority directives, AML/CFT duties under the Asset (Money) Laundering Prevention Act 2064 and the Authority's AML/CFT directive, customer due diligence, PEP and sanctions screening, goAML reporting to FIU-Nepal, and the regulatory reporting calendar.

Course content

5 lessons
  1. 1The Compliance Framework for Nepali InsurersLaws, regulator, directives and the three lines of defence.Preview
  2. 2AML/CFT Obligations and Customer Due DiligenceKYC, risk rating, PEPs and sanctions screening for insurers.
  3. 3Red Flags and Suspicious Transaction ReportingSpot insurance money laundering patterns and report through goAML.
  4. 4Regulatory Reporting to the Nepal Insurance AuthorityPeriodic returns, financial reporting and accuracy controls.
  5. 5Compliance Monitoring, Training and Board ReportingTest controls, train staff and report clearly to the board.