What changed
RBI has circulated a fresh consolidated list of terrorist individuals and organisations from the UN Security Council's 1267 Committee, as received from the Ministry of External Affairs. This updates the previous list sent via circular dated April 21, 2010.
What it means for you
Co-operative banks must immediately update their internal databases with the new UN list and ensure no new account is opened for any listed entity. Existing accounts must be scanned for matches, and any identified accounts must be frozen as per the UAPA Order procedures outlined in the October 29, 2009 circular.
What you must do
- Update your bank's consolidated list of terrorist individuals/entities with the latest UN 1267 Committee changes.
- Screen all new account applications against the updated list before opening accounts.
- Scan all existing accounts to identify any linked to listed individuals or entities.
- Freeze funds and economic resources of designated individuals/entities as per paragraph 6 of the October 29, 2009 circular.
- Acknowledge receipt of this circular to your concerned RBI Regional Office through the Compliance Officer/Principal Officer.
Who it affects
State Co-operative Banks, Central Co-operative Banks, Compliance Officers/Principal Officers of co-operative banks
What is the source of the updated list?
The list comes from the UN Security Council's 1267 Committee, forwarded by the Ministry of External Affairs via a note dated March 11, 2010.
What action is required for existing accounts?
Banks must scan all existing accounts to ensure none are held by or linked to any entity or individual on the updated list.
Where can I find the full consolidated list?
The complete list is available on the UN website at http://www.un.org/sc/committees/1267/consolist.shtml.