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. Read more

AML/CFT guidelines-Procedures for Determination of Beneficial Ownership

Attention is drawn to clause 3.1.1 (iii) of IRDA Circular reference IRDA/F&I/CIR/AML/158/09/2010 dated 24th September 2010 on AML/CFT guidelines (the Master Circular 2010) which requires insurers to identity and verify the beneficial owner to an insurance contract. Read more