*IRA seeks tighter scrutiny of money laundering life insurers* The Insurance Regulatory Authority (IRA) is seeking tighter scrutiny of life insurance business to lower exposure to money laundering and terrorism financing threats. The regulator says the packaging of life insurance products, also called long-term business, makes them prone to money laundering and terrorism financing threats and tighter supervision is required. Treasury Cabinet Secretary John Mbadi told Parliament on Thursday the IRA is currently reviewing the activities of long-term insurers to identify gaps that will inform improved supervision. Source: Business Daily