Anti-Money Laundering Training

NAILBA is pleased to offer you the ability to promote the LIMRA/NAILBA anti-money laundering training program to your agents.

2008 AML Updates: As the insurance side of financial services catches up with FINRA’s requirements, you may be receiving calls from your agents regarding changes in the frequency of renewal for AML training. NASD/FINRA oversight: NTM 02-21 suggests that all members provide annual AML training to ensure that new developments are addressed regularly. Therefore, anyone with a securities registration is required to update their FINRA AML requirement annually.

Insurance Carriers / State oversight: Many carriers do require training on the same annual frequency as FINRA suggests. Some accept the Broker Dealer training outline to satisfy this requirement. However, we are becoming aware of carriers who want more specific training, either their own program or from LIMRA on-line (as industry standard).

What does this mean for NAILBA Agencies? You need to be aware that the requirements are changing, and that you may get questions from your agents regarding AML training.  If your agents need to update/renew their training, have them visit the NAILBA/LIMRA AML training site at the AML link on your agency web site or at the link below. If your agents have already completed the base training through LIMRA, they simply need to log back into the system, check to be sure they have noted their affiliation with your agency during the login process, and complete the 2008 AML training.  The training takes about 30 minutes, and on completion, any insurance carriers they have selected will be notified of their completion of the 2008 update. If the agent completed their training elsewhere, they can create an account on the LIMRA site to complete training, but they will have to complete the base course in addition to the 2008 update.

Please note that each carrier has their own requirements, and may have additional training on the site that must be completed to fulfill their requirements.  Please direct your agents to the individual carriers for questions about specific company requirements.

Click here to access the LIMRA/NAILBA AML Training Program

Click here to access a tool kit designed to provide you with easy-to-use templates to brand and promote these benefits and services to your agents.

Click here to download a Frequently Asked Questions (FAQs) document for easy reference.

Click here for Federal requirements.

Click here to request a culmulative report that provides you a list of the producers that associate themselves to your agency who have completed the basic AML course and any company-specific AML compliance requirements.