AML Training for Insurance Brokers
Broking sits in an awkward place. Much general business carries little money-laundering risk, and then a single-premium life bond or a large pension transfer arrives and the picture changes completely. This course is built around that split, so staff can tell which is which, and evidence the judgement.
Built for the realities of broking in Ireland
Product-level risk is the whole game for a brokerage. The course teaches staff to score it, question it and record it, without turning every motor renewal into a compliance exercise.
What the training covers
- Which lines of business are in scope, and why life and investment products carry the exposure that general business does not
- Customer due diligence at proposal stage, and the ongoing monitoring obligation that follows the policy
- Source of funds and source of wealth: the questions to ask on a large single premium, and how to record the answers
- Politically exposed persons, sanctions screening and the beneficial ownership of corporate clients
- Filing an STR with FIU Ireland, and the tipping-off rule as it applies in a client-facing broking role
Who it's for: Account executives, client-facing advisers, PCF holders, compliance staff and support teams.
What makes it broker-specific
Central Bank AML guidance
Mapped to the Central Bank’s AML/CFT guidelines for the financial sector, with the insurance-specific passages called out.
Product-level risk scoring
A practical method for rating a product and a client together, so risk ratings are consistent across the brokerage.
Source of funds and wealth
The difference between the two, why supervisors care, and scripts for asking without losing the client.
Fitness and probity
How AML failures read against the F&P standards for PCF and CF role-holders, and what that means personally.
The broker risk picture
The transactions most likely to put a brokerage in front of a supervisor.
Single-premium life bonds
Large lump sums with limited insurance rationale, and the product most consistently flagged in Central Bank AML guidance.
Early surrender and cancellation
Policies taken out and unwound at a loss, where the loss is plainly not the point of the transaction.
Third-party premium payment
Premiums paid by someone with no obvious connection to the policyholder or the insured risk.
Pension transfers
Transfers of substantial value where the source of the underlying fund has never been established.
The recommended pathway
Five 30-minute courses that together cover what a supervisor expects of this sector. Enrolled from one dashboard, evidenced from one audit export.
Each course ends in a randomised exam rather than a recap slide, and issues a timestamped certificate stating the outline covered. The Harrington Hub tracks completion, chases the stragglers automatically and exports the whole record when you need it.
Yes, where the brokerage carries on life assurance or investment-related business it is a designated person under the Criminal Justice (Money Laundering and Terrorist Financing) Acts 2010–2021, and must instruct staff on the law and on recognising suspicious transactions. General insurance business alone is outside scope, but most Irish brokerages write both, which is why training is normally rolled out firm-wide.
An AML failure is rarely just an AML failure. For anyone holding a PCF or CF role it goes to the honesty, ethics and integrity standard, and to whether the person is competent and capable in the role. That is why the course covers F&P explicitly rather than leaving staff to join the dots.
Enough to explain, on the file, how this client came to have this money for this transaction, and proportionate to the risk. The course works through the documentation that satisfies that for salary, business proceeds, inheritance and property sales, and what to do when the answer does not hold together.
Yes. The courses carry CPD accreditation codes from the LIA and the IOB, the bodies most broker CPD is recorded with. Certificates are timestamped and state the hours and course outline, so they work as evidence at an inspection.
Get your broker team audit-ready.
We will show the broking scenarios, the randomised exam and the certificate, with your own team on the dashboard.