Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF) & Counter Proliferation Financing (CPF)

What You Need to Know as Our Client

At St. Michaels Insurance Brokers Limited, we are committed to protecting our clients, our business, and the wider financial system. As part of this commitment, we follow strict Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF) & Counter Proliferation Financing  (CPF) regulations.

What Does AML CTF & CPF Mean?

AML CTF & CPF laws are designed to:

Prevent misuse of financial services to hide or disguise funds from illegal sources.

  Protect customers and our firm by ensuring that all transactions processed are legitimate.

  Promote financial integrity by ensuring compliance with  local and international standards.

  • Promote trust and stability in the insurance and financial sectors.

  • Reduce the risk of financial services being used to support criminal or terrorist activities.


These measures help ensure that all financial transactions are safe, transparent, and legitimate.

Why Do We Ask for Your Information?

You may be asked to provide certain documents when:

  • Starting a new insurance policy 

  • Making changes to an existing policy 

  • Processing large transactions or claims 

This is required by law and regulated by the Financial Services Commission (Barbados).


Our responsibility is to:

  • Verify the identity of our clients 

  • Understand the nature of the business we are conducting 

  • Monitor transactions for unusual or suspicious activity 

  • Monitor the client and transaction throughout the life-cycle of the relationship 

How This Protects You

These measures are not just about compliance—they help:

  • Protect your policy from fraud by verifying identities and financial backgrounds to reduce the risk of fraudulent claims or identity theft. 

  • Ensure your policy is secure 

  • Maintain the integrity of our firm and the insurance industry in Barbados 

What Documents May Be Required?

To meet these requirements, we will ask for the following:

For Individual Clients

  • Valid Photo ID
    (Passport, National ID, or Driver’s Licence) 

  • Proof of Address (dated within the last 3 months)
    (Utility bill, bank statement, or official correspondence) 

  • Basic Personal Information
    (Occupation, contact details, date of birth) 


For Businesses / Corporate Clients

  • Company Documents
    (Certificate of Incorporation, Registration documents) 

  • Details of Directors & Owners
    (Including identification for key individuals) 

  • Proof of Business Address 

  • Nature of Business Activities 

When Additional Information May Be Needed

In some cases, we may request:

  • Source of funds information 

  • Additional identification documents 

  • Clarification on transactions 

This is part of enhanced due diligence required under local FSC Guidelines and international standards set by the Financial Action Task Force.

Our Commitment to You

We understand that providing documentation can sometimes feel inconvenient. However, these steps are essential to:

  • Protect you and your assets 

  • Comply with legal requirements 

  • Maintain the highest standards of trust and professionalism 

All information provided is handled with strict confidentiality and in accordance with Data Protection Act, 2019.

Need Assistance?

If you have any questions about our AML/CTF/CPF requirements or the documents needed, our team is here to help.

Speak with
Our Team