diff --git a/README.md b/README.md
index 1880bc9..408ef0d 100644
--- a/README.md
+++ b/README.md
@@ -152,7 +152,7 @@ You need the following permissions to run this module.
 
 | Name | Source | Version |
 |------|--------|---------|
-| <a name="module_cbr_rule"></a> [cbr\_rule](#module\_cbr\_rule) | terraform-ibm-modules/cbr/ibm//modules/cbr-rule-module | 1.29.0 |
+| <a name="module_cbr_rule"></a> [cbr\_rule](#module\_cbr\_rule) | terraform-ibm-modules/cbr/ibm//modules/cbr-rule-module | 1.31.0 |
 
 ### Resources
 
diff --git a/examples/advanced/main.tf b/examples/advanced/main.tf
index 58443ac..41a7beb 100644
--- a/examples/advanced/main.tf
+++ b/examples/advanced/main.tf
@@ -52,7 +52,7 @@ module "cloud_monitoring" {
 
 module "cbr_schematics_zone" {
   source           = "terraform-ibm-modules/cbr/ibm//modules/cbr-zone-module"
-  version          = "1.29.0"
+  version          = "1.31.0"
   name             = "${var.prefix}-schematics-network-zone"
   zone_description = "CBR Network zone containing Schematics"
   account_id       = module.cloud_monitoring.account_id
diff --git a/main.tf b/main.tf
index 0a4b769..84f4abe 100644
--- a/main.tf
+++ b/main.tf
@@ -55,7 +55,7 @@ locals {
 module "cbr_rule" {
   count            = length(var.cbr_rules)
   source           = "terraform-ibm-modules/cbr/ibm//modules/cbr-rule-module"
-  version          = "1.29.0"
+  version          = "1.31.0"
   rule_description = var.cbr_rules[count.index].description
   enforcement_mode = var.cbr_rules[count.index].enforcement_mode
   rule_contexts    = var.cbr_rules[count.index].rule_contexts