What changed
RBI circular DPSS.CO.AD.No. 2390/02.27.005/2010-11 dated April 19, 2011, updates the earlier March 23, 2011 circular with new UN Security Council 1267 Committee changes to the consolidated list of terrorist individuals/entities. PSOs must now incorporate these latest additions into their screening processes.
What it means for you
Payment system operators must immediately update their internal databases with the revised UN list and ensure no new customer is onboarded if their name appears. Existing accounts must be scanned to identify and freeze any linked assets as per the UAPA Order and RBI's September 2009 circular.
What you must do
- Update your internal customer screening database with the latest UN 1267 Committee consolidated list.
- Before opening any new account or registering a new customer, verify their name against the updated list.
- Scan all existing customer accounts to identify any matches with the list and take action as per RBI guidelines.
- Freeze funds, financial assets, or economic resources of designated individuals/entities as per paragraph 6 of the September 17, 2009 circular.
- Ensure the nodal officer acknowledges receipt of this circular.
Who it affects
All payment system operators authorized under the PSS Act, 2007, Nodal officers and principal officers of PSOs
What is the source of the updated list?
The list is the UN Security Council 1267 Committee's consolidated list of individuals and entities linked to Al-Qaida and Taliban, as communicated by the Government of India via Ministry of External Affairs notes dated March 24, 2011.
What action is required for existing customers?
PSOs must scan all existing accounts to ensure no account is held by or linked to any entity or individual on the updated list, and freeze related assets as per the September 2009 circular.
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.