NEW DELHI : The government has now allowed insurance companies to collect Aadhaar card details under the Prevention of Money Laundering Act, subject to compliance with standard security and privacy measures as per the Aadhaar Act.
The move is aimed at checking laundering of funds into insurance companies and shell companies. The finance ministry has released a list of 29 insurance companies like Bajaj Allianz Life Insurance, Bharti AXA Life Insurance, ICICI Prudential Life Insurance, HDFC Life Insurance, HDFC Ergo General Insurance and SBI General Insurance which can collect Aadhaar information from customers for KYC purposes.