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Online fraud: IRDAI proposes strict guidelines to prevent leaks similar to Star Health case

The Insurance Regulatory and Development Authority of India (IRDAI) has introduced tougher regulations to counter online fraud following numerous incidents at various insurers. The 2024 Insurance Fraud Monitoring Framework Guidelines oblige insurers to put in place strict anti-fraud measures such as endorsed anti-fraud policies, Fraud Monitoring Units (FMU’s), strengthened cybersecurity, and regular fraud education initiatives. This follows a notable security breach at Star Health Insurance.

Source: www.businesstoday.in –

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