The Insurance Regulation and Control Authority (ARCA) organized, on Monday March 21, 2022, an information and training session for agents and executives of the National Financial Intelligence Unit (CENAREF) in the framework of the partnership that binds the two institutions.
Committed to the fight against the evasion of the insurance premium, the ARCA is counting on the support of the CENAREF to intensify the control of insurance.
The objective of this activity is to enable participants to acquire the necessary tools to approach with confidence the issue of insurance within their scope.
As a result, CENAREF agents and executives were entitled to two training modules. These are primarily the basic notions of insurance and Law No. 15/005 of March 17, 2015 on the Insurance Code. Then, the second part was focused on insurance fraud and money laundering.
On this occasion, the Director General of ARCA, Alain Kaninda Ngalula, noted the relevance of the fight against insurance premium evasion.
According to him, all efforts should be combined to ensure that capital which today goes abroad through direct investments is brought back to the country.
” Today with the support of the CENAREF, we want to intensify the control and obviously identify all the cases which would be linked to money laundering when these evasions took place and are organized by the economic operators. », he let know.
Indeed, pooling the efforts of the two institutions is in the nation’s best interest in order to contribute to increased revenue maximization. A real financial windfall that would allow the central government to meet grassroots development needs.
In the Democratic Republic of the Congo, insurance fraud and money laundering are two scourges that raise many concerns.
Taking advantage of the liberalization of the sector in accordance with Law No. 15/005 of March 17, 2015 on the Insurance Code, ARCA is keen to develop a healthy and solid insurance market and to be a modern, efficient and benchmark control institution. .
With this in mind, the Insurance Regulation and Control Authority (ARCA) intends to position, by 2025, the DRC insurance market among the top 5 African insurance markets.
To date, insurance experts estimate that the clean and normalized Congolese market represents a potential of around one billion US dollars. This result could double or even triple if insurance fraud were brought under control.