IRDA releases master circular on anti money laundering or counter financing of terrorism
ANTI MONEY LAUNDERING/COUNTER FINANCING OF TERRORISM (AML/CFT) GUIDELINES FOR LIFE INSURERS MASTER CIRCULAR NO.IRDAI/SDD/GDL/CIR/175/09/2015, DATED 28-9-2015 1. Background: 1.1 The Prevention of Money Laundering Act (PMLA), 2002 (the Act) brought into force with effect from 1st July 2005, is applicable to all the financial institutions which include Life Insurers. The application of anti-money laundering measures… Read More »