IRDAI circular IRDAI/IID/CIR/MISC/112/8/2024 · 12 Aug 2024
Official title
Prevention of Money-Laundering (Maintenance of Records) Amendment Rules, 2024
Summary
Check the official recordThe Insurance Regulatory and Development Authority of India has modified its Master Guidelines on AML/CFT to incorporate amendments made to the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005. Insurers are now required to adopt the procedures specified in Rule 9(1C) of the PML Rules for KYC compliance. Additionally, insurers must furnish updated KYC information to the Central KYC Registry (CKYCR) when obtained from a client and must retrieve and update their internal records whenever the CKYCR notifies them of changes to an existing client's KYC data. Insurers are directed to take necessary steps to implement these amendments as notified in the gazette on July 19, 2024.
What you must do
Key dates
Who is affected
भारतीय बीमा विनियामक और विकास प्राधिकरण INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA
संदर्भ: आईआरडीएआई/आईआईडी/सीआईआर/एमआईएससी/112/8/2024 Ref: IRDAI/IID/CIR/MISC/112/8/2024 दिनांक / Date:12.08.2024
परिपत्र CIRCULAR
विषय: धन-शोधन निवारण (अभिलेखों का रखरखाव) संशोधन नियम, 2024 Re: Prevention of Money-Laundering (Maintenance of Records) Amendment Rules, 2024
राजपत्र अधिसूचना संख्या जीएसआर 419 (ई) दिनांक 19 जुलाई 2024 द्वारा जारी धनशोधन निवारण (अभिलेखों का रखरखाव) नियम, 2005 (पीएमएल नियम) में लागू किये गये संशोधनों की ओर ध्यान आकर्षित किया जाता है।
Attention is drawn to amendments effected to Prevention of Money-Laundering (Maintenance of Records) Rules, 2005 (PML Rules) vide gazette notification no. GSR 419 (E) dated 19th July 2024.
Attention is also drawn to Clause No. 12 of Master Guidelines on AML/CFT issued by the Authority vide ref: IRDAI/IID/GDL/MISC/160/8/2022 dated 1st August 2022 where, inter alia insurers were already mandated to refer Central KYC Registry (the CKYCR) for retrieving the KYC records without asking the customer to submit KYC records again.
Consequent to the amendments made to the PML rules, the following modifications are effected to the Master Guidelines dated 1st August, 2022:
3.1. पैरा 12.2 को निम्नानुसार प्रतिस्थापित किया जाएगा। The para 12.2 shall be substituted as under.
“12.2 केवाईसी मानदंडों का अनुपालन करने के भाग के रूप में, बीमाकर्ता पीएमएल नियमों के नियम 9(1ग) में विनिर्दिष्ट प्रक्रिया को अपनाएंगे।
12.2 As part of complying with KYC norms, the Insurers shall adopt the procedure specified in Rule 9 (1C) of PML Rules.”
3.2. पैरा 12.3 छोड़ दिया जाएगा। The para 12.3 shall be omitted.
3.3 पैरा 12.9 के बाद निम्नलिखित पैरा निविष्ट किये जाएंगे। After para 12.9, the following paras shall be inserted.
“12.10 जहाँ नियम 9(1ग) के अधीन ग्राहक से अतिरिक्त या अद्यतन की गई केवाईसी सूचना प्राप्त की जाती है, वहाँ बीमाकर्ता नियम 9(1घ) के अनुसार सीकेवाईसीआर को अद्यतन की गई सूचना प्रस्तुत करेंगे।
12.11 यदि सीकेवाईसीआर के द्वारा किसी वर्तमान ग्राहक के केवाईसी अभिलेख में अद्यतन सूचना दी जाती है, तो बीमाकर्ता सीकेवाईसीआर से अद्यतन किये गये अभिलेख पुनः प्राप्त करेंगे तथा अपने द्वारा अनुरक्षित किये जानेवाले केवाईसी अभिलेख को अद्यतन करेंगे।”
“12.10 Where additional or updated KYC information is obtained from a client under Rule 9(1C) of PML Rules, Insurers shall furnish the updated information to the CKYCR as per Rule 9(1D).
12.11 If an update in the KYC record of an existing client is informed by the CKYCR, the Insurers shall retrieve the updated KYC records from the CKYCR and update the KYC record maintained by it.”
Further, insurers shall take note of the amendments notified to PML Rules vide above mentioned gazette notification dated 19th July, 2024 and take necessary steps to implement the same in terms of para 1.2 of the Master Guidelines.
हस्ताक्षरित / Sd/- डीवीएस रमेश / DVS Ramesh मुख्य महाप्रबंधक / Chief General Manager बीमा समावेशन एवं विकास विभाग / Insurance Inclusion and Development Dept.
