IRDA of India has permitted additional entities to perform authentication under the Aadhaar Act for the purposes of section 11A of the Money laundering Act, 2002 - S.O. 2668(E) - Prevention of Money-Laundering
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Aadhaar authentication permission for money-laundering compliance granted to Bima Sugam India Federation under privacy and security conditions. The Central Government, acting under the proviso to section 11A of the Prevention of Money-laundering Act, 2002, permits Bima Sugam India Federation (BSIF) to perform authentication under the Aadhaar Act for the purposes of that section. The permission is issued after the Government is satisfied that the reporting entity will comply with the standards of privacy and security under the Aadhaar Act, and after consultation with the Unique Identification Authority of India and the appropriate regulator, the Insurance Regulatory and Development Authority of India.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Aadhaar authentication permission for money-laundering compliance granted to Bima Sugam India Federation under privacy and security conditions.
The Central Government, acting under the proviso to section 11A of the Prevention of Money-laundering Act, 2002, permits Bima Sugam India Federation (BSIF) to perform authentication under the Aadhaar Act for the purposes of that section. The permission is issued after the Government is satisfied that the reporting entity will comply with the standards of privacy and security under the Aadhaar Act, and after consultation with the Unique Identification Authority of India and the appropriate regulator, the Insurance Regulatory and Development Authority of India.
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