AFRICAN  LIFE  ASSURANCE  is  a  Life  Assurance  company  operating  in  GHANA.  The     company is licensed and regulated by the NATIONAL INSURANCE COMMISSION. 

AFRICAN  LIFE  makes  every  effort  to  remain  in  full  compliance  with  all  applicable anti-money laundering laws, rules and standards in force in Ghana.

In  order  to  facilitate  compliance  with  anti-money laundering  requirements,  AFRICAN LIFE ASSURANCE  has appointed an  ANTI-MONEY LAUNDERING COMPLIANCE OFFICER to oversee its anti-money laundering program. 

AFRICAN LIFE ASSURANCE has:

(a)  Developed  and  implemented  written  anti-money  laundering  policies,  procedures, 

internal controls and systems, which include but are not limited to:

  • Customer  identification  program  and  procedures  (i.e.  carry  out  customer  due 
  • diligence and enhanced due diligence);
  • Procedures  to  collect  and  refresh,  as  appropriate,  customer  due  diligence 
  • information;
  • Procedures to assess risk at customer level;
  • Processes to keep required records,
  • Procedures and systems to monitor customer transactions and activity; 
  • Processes and systems to identify and report suspicious activity and
  • Measures to protects staff who report violations. 

b)  Developed  a  program  to  train  employees  in  anti-money  laundering  detection  and prevention  procedures,  and  also  subjects  its  anti-money  laundering  program  to regular independent audit.

(c)  AFRICAN  LIFE  ASSURANCE  cooperates  fully  with  law  enforcement  and  regulatory investigations  and  inquiries  and  does  not  do  business  with  blacklisted  entities  and  is compliant with all legal provisions.

(d)  AFRICAN  LIFE  ASSURANCE  complies  fully  with  anti  money  laundering  laws, Regulations  and  Circulars  etc,  issued  by  the  Financial  Intelligence  Centre  (FIC), National Insurance Commission (NIC) and other relevant authorities