Hong Kong's Insurance Authority (IA) has ordered FWD Life Insurance Company (Bermuda) Limited to pay a HK$19.5 million penalty. It comes after an on-site inspection found gaps in the insurer's anti-money laundering (AML) controls.
Hong Kong's Insurance Authority (IA) has ordered FWD Life Insurance Company (Bermuda) Limited to pay a HK$19.5 million penalty.
It comes after an on-site inspection found gaps in the insurer's anti-money laundering (AML) controls.
615, the city's law on money laundering and terrorist financing, known as AMLO.
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Hong Kong's Insurance Authority (IA) has ordered FWD Life Insurance Company (Bermuda) Limited to pay a HK$19.5 million penalty. It comes after an on-site inspection found gaps in the insurer's anti-money laundering (AML) controls. 615, the city's law on money laundering and terrorist financing, known as AMLO.
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