• Coordination with Federal Government and International Partners
• In addition to our work with insurance consumers within our own states, state insurance
  regulators collaborate with our federal and international colleagues to address insurance
  antifraud issues. State insurance regulators work with the U.S. Department of Treasury and other
  financial regulators on Anti-Money Laundering (AML) initiatives as well as initiatives to combat
  the financing of terrorism (CFT), which can involve permanent life insurance, annuities, and
  other products with cash value or investment features. While the Treasury Department’s
  Financial Crimes Enforcement Network (FinCen) has primary responsibility in this arena, state
  regulators coordinate with FinCen and monitor insurer activities to make sure they are not
  engaging in these activities and are not susceptible to those acts. To cooperate and facilitate the
  sharing of information, state insurance departments and FinCen have established Memorandums
  of Understanding and insurance regulators notify appropriate federal regulators if an insurer is
  not in compliance with AML/CFT requirements.

2017 0803 - NAIC - Testimony of John D. Doak, Insurance Commissioner, State of Oklahoma, On Behalf of the National Association of Insurance Commissioners - 6p

2017 0803 - GOV (Senate) - Insurance, and Data Security - Senate - Committee on Commerce, Science, and Transportation
Regarding: Insurance Fraud in America: Current Issues Facing Industry and Consumers