The Insurance Authority Launches a Training Initiative for "Combating Financial Crimes"

: 6/11/2019

​The Insurance Authority launched an initiative to train the workers in the insurance sector and provide them with the necessary expertise in the field of  "Combating Financial Crime"in cooperation with the International Compliance Association.

 

H. E. Ebrahim Obaid Al-Zaabi pointed out that the initiative embodies the Authority's keenness to develop the insurance sector and the related sectors. As well as, raising the technical and professional level of the human resources working in the domestic market. In addition to enhancing the importance of education, training and qualification in accelerating the process of transformation to the knowledge economy and developing the role of human resources in advancing the process of economic and social development, which will have positive impacts on the growth of the national economy.

 

Al- Zaabi added that the initiative objectives has several pillars, includingcreating a generation possessing the best skills and expertise in the field of combating financial crimes, anti- money laundering and combating terrorist financing.As well as, assisting the sector's employees in realizing the responsibilities related to financial crime and the interrelated nature of the risks associated with them, identifying the various risks and responding effectively to them,enhancing the integrity of the UAE insurance market, preventing the entry of criminal groupsand absorbing the best practicesin this field. In addition to, supporting the Emiratization of specialized professions in the insurance sector and supporting the development of the sector.

 

The participants will receive at the end of the Combatting Financial Crimes course, a Certificate in "Financial Crimes Risk" from the International Compliance Association. The training program will be offered via an e-platform "Distance Learning", where all the employees of the insurance sector, specially the key officers, compliance officers and Anti-Money laundering officers will be targeted. The Authority will also launch a specialized training program through direct training for Anti-Money laundering officers and compliance officers in insurance companies, brokers and agents. The course will commence in June 2019.


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