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
- 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