Insurers permitted Aadhaar authentication to comply with anti-money laundering laws.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....This notification permits two reporting entities, Go-Digit Life Insurance Limited and Acko Life Insurance Limited, to perform Aadhaar authentication for purposes u/s 11A of the Prevention of Money-laundering Act, 2002. The Central Government has determined that these entities comply with privacy and security standards under the Aadhaar Act, 2016, and has consulted with the Unique Identification Authority of India and the Insurance Regulatory and Development Authority of India before granting this permission. The powers are exercised under sub-section (1) of Section 11A of the Prevention of Money-laundering Act, 2002.....