Money laundering risks in insurance sector haven't changed

The money laundering risk faced by the insurance sector has remained unchanged over five years, according to a new report.

There's still a medium overall risk level - as found by the assessment carried out ahead of the MONEYVAL financial evaluation in October. 

It says insurance is the largest part of the financial services industry, accounting for 17 percent of national income and around 3,000 workers. 

And over £88 billion in life insurance funds are managed on Island - you can read the report here.