January 2024, new questionnaires for the prevention of money laundering, money laundering and terrorist financing: What banking and insurance compliance professionals need to know.
In the field of banking and insurance, the prevention of money laundering and terrorist financing is a major concern. In order to strengthen these prevention measures, new questionnaires have been introduced, coming into force on January 1, 2024. These questionnaires follow instruction no. 2022-I-18 issued by the Supervisory Authority, aimed at intensifying efforts to combat money laundering and the financing of terrorism in the financial sector. They are designed to assess the systems in place in financial institutions, including banks and insurance companies, to ensure their compliance with prevention rules.
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What you need to know
Concretely, banking and insurance professionals will have to complete these questionnaires to demonstrate the solidity of their prevention systems. These questionnaires will allow supervisory authorities to better evaluate the measures put in place by these institutions and to identify possible shortcomings.
The objectives of these new questionnaires are multiple. They aim in particular to strengthen the transparency and effectiveness of preventive measures, to detect and correct possible weaknesses in the systems to combat money laundering and the financing of terrorism, and to guarantee a high level of financial security. for the entire sector.
In conclusion
In short, these new questionnaires represent an important step in the fight against money laundering and the financing of terrorism in the financial sector. They reflect the commitment of supervisory authorities to ensuring a secure and transparent financial environment for all stakeholders.
Banking and insurance professionals are encouraged to stay informed and familiarize themselves with the requirements of these new questionnaires. A thorough understanding of these requirements is essential to ensure optimal compliance and maintain customer confidence in their institutions.
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Author: Emerique Opou
Founder and CEO of Emérique & Partners
London, United Kingdom
Named to the Staffing Industry Analysts' Global Power 150 Women in Staffing list, Emérique has more than 15 years of expertise in recruiting niche profiles in banking and insurance.
His rich pan-European experience has enabled him to build a solid network of professionals in the banking and insurance sectors, notably with actuaries, quantitative finance experts, risk managers, and compliance experts.
Emérique & Partners recruits exclusively at executive and senior management levels.
Every month, Emerique deciphers the major trends in the French and European banking and insurance market.
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