By Industry - 6 min

Insurance

The Federal Ministry of Finance categorizes the risk of money laundering within the insurance sector as “medium-low”.

Compliance with the Money Laundering Act requires the insurance sector to implement various measures, including risk management, internal security protocols, comprehensive due diligence/KYC procedures, and a system for reporting suspicious activities, all of which must be consistently established and maintained.

Rest assured, Regpit is your trusted partner for addressing all of these concerns.

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