Anti-Money Laundering /Counter Financing of Terrorism (AML/CFT)-Guidelines for General Insurers from IRDA

The Guidelines on Anti-Money laundering /Counter Financing of Terrorism (AML/CFT) were issued under Section 34 of the Insurance Act, 1938 on 31st March 2006. The Guidelines were made applicable to general insurance companies in the modified form effective from 1st January 2007.

  • Based on various representations received from the industry in the matter, some of the stipulations, as applicable to the general insurance companies have been reviewed and revised in consultation with General Insurance Council.
  • The enclosed circular supersedes all the earlier circulars on AML/CFT guidelines, as applicable to the General Insurance Companies. The revised stipulations, wherever incorporated are effective from 1st April 2013.
  • Insurance companies are advised to amend their AML/CFT policy suitably and ensure compliance.

(R.K. Nair)

Member (F&I)

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