NICO GENERAL SHARPENS STAFF'S AML/CFT SKILLS

NICO General Insurance Company in July this year trained its 62 staff members in anti-money laundering and combating the financing of terrorism (AML/CFT), of which 41 were trained in Blantyre at Sunbird Mount Soche Hotel on 2 July, 16 in Lilongwe at Sunbird Lilongwe Hotel on 9 July and 5 Executive Managers at NICO House in Blantyre on 25 July.

The training was facilitated by the FIU, but all the costs were met by NICO General. The insurance company requested the training to equip its staff and executive management with knowledge on AML/CFT concepts, the role of the FIU and obligations insurance companies have under the Money Laundering, Proceeds of Serious Crime and Terrorist Financing Act.

It is expected that the training will help management of the insurance company to support the AML/CFT function and promote among staff members a compliance culture with AML/CFT obligations such as Know Your Customer (KYC), record keeping and reports submission to the FIU.



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