Question

What is the role of the senior level officer appointed by insurance companies in implementing AML programs?

a.

To handle customer complaints

b.

To oversee claims processing

c.

To implement the AML program and monitor compliances

d.

To manage investment portfolios

Answer: (c).To implement the AML program and monitor compliances Explanation:The senior level officer appointed by insurance companies, such as the Chief Risk Officer, is responsible for implementing the AML program and monitoring compliances. This includes ensuring adherence to AML guidelines, conducting periodic risk management reviews, and maintaining a strong ethical and control environment within the company.

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Q. What is the role of the senior level officer appointed by insurance companies in implementing AML programs?

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