Crooks Are Using Life and Annuity Products to Launder Money, Fraud Tracker Says
March 19, 2025 by Allison Bell
Traditionally, criminals used banks to make the cash produced by illegal activities look clean.
That history has helped turn life insurance and annuity products into the new frontier for money launderers.
Michelle Rafeld, executive director of the Coalition Against Insurance Fraud, talked about life and annuity money laundering at a recent in-person session of the National Association of Insurance Commissioners’ Life Insurance and Annuities Committee.
Wink’s Moore on the Market: What makes insurance companies attractive to money launderers?
Find out in this piece from ThinkAdvisor‘s Allison Bell. -sjm
Originally Posted at Think Advisor on March 18, 2025 by Allison Bell.
Categories: Industry Articles
