Stay Alert with Athene’s Financial Crime Programs

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Our goal is to provide valuable information on an ongoing basis that can help you in your efforts to prevent, detect and combat financial crime. Check out these valuable tips and resources that can help you understand your obligations.

Anti-Fraud

A New Designation of Trusted Contact form (25135) is now available on the Forms and Brochures page. This form allows contract owners to assign a trusted person(s) to their Athene contract(s). Contract owners may authorize more than one trusted contact and can change or update their trusted contact information at any time.

What is a trusted contact?

A trusted contact is a person, named by the contract owner, that will have limited authority to speak on their behalf about matters related to their contract. They may be contacted by Athene if concerns about activity on the contract arise and Athene has been unable to contact the contract owner. This person may be a family member, attorney, accountant or another third-party who your client believes would respect their privacy and know how to handle the responsibility.

Why would a customer wish to have a trusted contact?

Naming one or more trusted contacts provides another layer of security on your client’s annuity contracts and puts Athene in a better position to keep contracts safe.

How is a trusted contact used?

A trusted contact may be asked to confirm the contract owners current contact information, health status or the identity of any legal guardian, executor, trustee or holder of a power of attorney.

Please note: Naming a trusted contact does not give that person authority to act on behalf of the client, execute transactions or engage in activity on the contract. It also does not make them a power of attorney, legal guardian, trustee or executor.

Anti-Money Laundering
As a financial professional, it is your duty to be aware of with whom you are conducting business and the ever-changing Sanction Programs set forth by the United States government. Read on to learn more about these programs and the penalties that may be accessed to violators. 

Sanction Programs prohibit individuals and companies from conducting business with targeted entities as set forth by the United States government. There are several economic programs on more than 12 countries or geographic areas, and more than 3,500 organizations and individuals. Under each program, the targeted entity is subject to different levels of restriction based upon U.S. foreign policy goals and national security concerns.

Athene monitors each Sanction Program’s issued Orders, Licenses and frequently changing lists. As a financial professional, you should always be aware of with whom you are conducting business. It’s important to understand Athene’s Know Your Customer requirements and always review any non-expired government issued identification.

Violators of Sanction Programs are subject to heavy fines and penalties. The amounts vary based upon the program. Civil penalty amounts are not to exceed the greater of $250,000 or twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed. Criminal penalties are $1,000,000, or if a natural person, imprisonment for not more than 20 years, or both.

For additional information regarding the orders and guidance on sanctions, including financial entities on the Specially Designated Nationals (“SDN”) List, you may access the United States Department of Treasury website, which is updated frequently. 

We’re here to help! If you suspect a financial crime, please contact Athene for assistance: