What changed
RBI received updated UN Al-Qaida sanctions list notes from November 23, 26, 27, and December 5, 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 UN designations. All new account openings require name screening against this list, and existing accounts must be reviewed to identify any matches. Freezing of funds and assets must follow the procedures outlined in the September 17, 2009 circular.
What you must do
- Update the UN Al-Qaida sanctions list in your systems using the latest notes from November/December 2012.
- Screen all new account applicants against the updated list before account opening.
- Scan all existing accounts to identify any linked to newly designated individuals or entities.
- Freeze funds, financial assets, or economic resources of matched accounts as per paragraph 6 of the September 17, 2009 circular.
- Ensure 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 sanctions list?
The list is from the UN Security Council's 1267/1989 Committee Al-Qaida Sanctions List, available on the UN website.
What action is required for existing accounts?
Banks must scan all existing accounts to ensure no account is held by or linked to any individual or entity on the updated list.
What should we do if we find a match?
Follow the freezing procedures detailed in paragraph 6 of RBI circular DBOD.AML.BC. No. 44/14.01.001/2009-10 dated September 17, 2009.