Author(s)

Zhang Zhejun

Corresponding Author

Zhang Zhejun

ABSTRACT

Customer identification is the front-end of anti-money laundering work of insurance financial institutions. It determines the effectiveness of suspicious transaction monitoring in the operation of anti-money laundering monitoring system and the quality of suspicious transaction analysis by operators. Due to the openness of the economy in the Northeast and the prominent geographical features of Hong Kong and Macao, the insurance financial institutions have some unique problems in the customer identification mechanism, which increases the difficulty of the anti-money laundering enforcement agencies and affects anti-money laundering. This paper analyzes the specific problems existing in the customer identification mechanism of insurance financial institutions in Northeast China, and then proposes a perfect mechanism.

KEYWORDS

Insurance business: anti-money laundering, customer identification