The Insurance Regulatory and Development Authority of India on 1st August, 2022 issued master guidelines on Anti-Money Laundering/ Counter Financing of Terrorism (AML/CFT), 2022, applicable to all classes of Life, General or Health insurance business.
This master guideline aims to consolidate and update guidelines on AML/CFT earlier issued by the IRDAI in 2013 and 2015 respectively, into a single Master Guidelines covering provisions of PML Act, Rules and other applicable norms (as amended from time to time).
The Guidelines will come into force from 1st November, 2022.
