Increasing AML regulations in the insurance industry require insurance companies to provide evidence of adequate, risk based AML/CTF, KYC/CIP and EDD, programs that are in place and running.

On July 23, 2014, the European Commission published the electronic identification and trust services (eIDAS) Regulation as Regulation 910/2014. On July 1, 2016, eIDAS took effect, replacing the existing EU directive on electronic signatures. Any EU member state law that was inconsistent with eIDAS was automatically repealed or replaced.

Implementation of Electronic Signature technology in Banks, Insurance companies and Financial Institutions increases customer service quality, increases process automation and decreases operating cost.

Money laundering in the insurance industry is on the rise while life insurers require to report all transactions suspected of being connected with money laundering or terrorist financing.

One of the new rules introduced by the PSD2 is mandatory transaction monitoring. As defined in the Regulatory Technical Standards (RTS) on Strong Customer Authentication (SCA) and Common and Secure Communication (CSC), transaction monitoring will become mandatory for all payment services providers.

Basel 2018 AML Index Report accompanies the seventh edition of the Basel AML Index, which has been published by the Basel Institute on Governance since 2012.

Hellenic Republic, Ministry of Finance, Publication of the Report "Assessment of National Risk for the Legalization of Revenues from Criminal Activities and the Financing of Terrorism".

Banking institutions require to meet the customer demand, offering supreme protection and the strongest identification authentication management.

In March 2018, two years are closing from the date that U.S. Federal Financial Institution Regulatory Agencies issued a common guidance clarifying the applicability of the Customer Identification Program (AML/CIP) rule to prepaid cards issued by banks.