What changed
RBI received an updated consolidated list from the UN Security Council's 1267 Committee via the Ministry of External Affairs, dated January 19, 2011. Banks must now use this latest list to screen customers and accounts.
What it means for you
Banks must immediately update their internal databases with the new UN list and ensure no existing or new accounts are linked to listed individuals/entities. Non-compliance could lead to regulatory action and reputational risk. The circular reinforces the strict adherence to the UAPA Order of August 27, 2009.
What you must do
- Update the consolidated list of terrorist individuals/entities as per the UN 1267 Committee's latest changes.
- Screen all new account applications against the updated list before opening accounts.
- Scan all existing accounts to identify and report any links to listed individuals/entities.
- Follow the procedure in the UAPA Order dated August 27, 2009, for freezing funds and assets of designated entities.
- Ensure the Compliance Officer/Principal Officer acknowledges receipt of this circular.
Who it affects
All Scheduled Commercial Banks (excluding RRBs), Local Area Banks, All India Financial Institutions
What is the source of the updated list?
The list is from the UN Security Council's 1267 Committee, forwarded by the Ministry of External Affairs on January 19, 2011.
What action is required for existing accounts?
Banks must scan all existing accounts to ensure no account is held by or linked to any entity or individual on the updated list.
Where can we find the full consolidated list?
The complete list is available on the UN website at http://www.un.org/sc/committees/1267/consolist.shtml.