The Central Government of India, exercising its powers under Section 11A of the Prevention of Money-laundering Act, 2002, has permitted Go-Digit Life Insurance Limited and Acko Life Insurance Limited to perform Aadhaar-based authentication. This decision follows consultations with the Unique Identification Authority of India (UIDAI) and the Insurance Regulatory and Development Authority of India (IRDAI). The government is satisfied that these entities meet the privacy and security standards mandated by the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016. The permission enables these insurance companies to authenticate users’ identities using Aadhaar for purposes related to the prevention of money laundering.
MINISTRY OF FINANCE
(Department of Revenue)
NOTIFICATION
New Delhi, the 22nd August, 2024
S.O. 3586(E).—In exercise of the powers conferred by sub-section (1) of section 11A of the Prevention of Money-laundering Act, 2002 (15 of 2003) (hereinafter referred to as the Money-laundering Act), the Central Government, on being satisfied that the reporting entities mentioned in the Table below comply with the standards of privacy and security under the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 (18 of 2016) (hereinafter referred to as the Aadhaar Act) and that it is necessary and expedient to do so, after consultation with the Unique Identification Authority of India established under sub-section (1) of section 11 of the Aadhaar Act and the appropriate regulator, namely, the Insurance Regulatory and Development Authority of India, hereby permits the said reporting entities to perform authentication under the Aadhaar Act for the purposes of section 11A of the Money-laundering Act, namely:-
TABLE
| Sl. No. | Name of Entity |
| 1 | Go-Digit Life Insurance Limited. |
| 2 | Acko Life Insurance Limited. |
[F. No. P-12011/4/2019-ES Cell-DOR (Part-2)]
RIMJHIM PANDEY, Under Secy.
