The Insurance Regulatory and Development Authority of India (IRDAI) on October 26, 2022, extended the time to implement master guidelines on Anti-Money Laundering/ Counter Financing of Terrorism (AML/CFT), 2022 issued vide ref. IRDAI/IID/GDL/MISC/ 160/8/2022 dated August 01, 2022.
As per para 2.3 of the guidelines, the guidelines would come into force from November 01, 2022, however, the authority has received requests from General and Health insurers to extend the timeline for implementation of the stated guidelines.
Considering the above request, it is informed that the guidelines will come into force from January 01, 2023, for General and Health insurers.
[Notification No. IRDAI/IID/GDL/MISC/225/10/2022]
