What changed
RBI received updated UNSC 1267 Committee notes from September-October 2009, with amendments to the Consolidated List of Al-Qaida/Taliban-linked individuals and entities. Changes include deletions and modifications (strike-through/underline) to entries across three annexes. Banks must update their internal lists accordingly.
What it means for you
Banks must immediately update their customer screening databases with the revised UNSC 1267 list. Failure to identify and freeze accounts of designated entities could lead to regulatory action. This reinforces the government's commitment to combating terrorist financing under UAPA.
What you must do
- Update the consolidated list of terrorist individuals/entities as per the three annexes provided in the circular.
- Screen all new account applications against the updated list before account opening.
- Scan all existing accounts to identify any links to newly added or modified entries.
- Follow the freezing procedures outlined in the UAPA Order dated August 27, 2009, and RBI circular of September 17, 2009.
- Ensure Compliance Officer/Principal Officer acknowledges receipt of this circular.
Who it affects
All Scheduled Commercial Banks (excluding RRBs), Local Area Banks, Financial Institutions
What is the source of the updated list?
The updates come from notes dated September 3, 23, and October 22, 2009, from the Chairman of the UN Security Council's 1267 Committee, forwarded by the Ministry of External Affairs.
What actions are required for existing accounts?
Banks must scan all existing accounts to ensure no account is held by or linked to any entity or individual in the updated list. If found, freezing of funds and assets must follow the UAPA Order procedures.
Where can the full consolidated list be accessed?
The complete consolidated list is available on the UN website at http://www.un.org/sc/committees/1267/consolist.shtml.