What changed
RBI received updated UNSCR 1988 sanctions list notes from the Ministry of External Affairs dated June 27 and July 2, 2012. Banks must incorporate these changes into their screening lists and ensure compliance with the UAPA Order of August 27, 2009.
What it means for you
Banks must immediately update their internal sanctions lists with the latest Taliban-linked individuals and entities. They are required to screen all new account openings against this list and review existing accounts for any matches, with strict adherence to freezing protocols for designated accounts.
What you must do
- Update your internal sanctions list with the latest UNSCR 1988 changes from the enclosed MEA notes.
- 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.
- Follow the freezing procedures outlined in paragraph 6 of the September 17, 2009 circular for any matches.
- Ensure meticulous compliance with the UAPA Order dated August 27, 2009.
Who it affects
Scheduled Commercial Banks (excluding RRBs), Local Area Banks, All India Financial Institutions
What is the source of the updated sanctions list?
The updates come from the UN Security Council's 1988 Committee, communicated via the Ministry of External Affairs notes dated June 27 and July 2, 2012.
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 sanctions list.
Where can I find the complete list?
The full list is available on the UN website at http://www.un.org/sc/committees/1988/list.shtml.