What changed
RBI has circulated the 19th update note from the UN Security Council's 1267/1989 Committee, which amends the Al-Qaida Sanctions List of individuals and entities linked to Al-Qaida. Banks must now use this updated list for compliance with Section 51-A of UAPA, 1967.
What it means for you
Banks must immediately update their internal sanctions screening databases with the new UN list entries. Failure to identify and freeze accounts of designated persons could lead to regulatory action. This reinforces the ongoing obligation to monitor both new and existing customers against evolving global terrorist financing lists.
What you must do
- Update your internal UNSCR 1267 sanctions list with the 19th amendment details from the UN website.
- Screen all new account applications against the updated list before onboarding.
- Scan all existing accounts to identify any matches with the newly added individuals/entities.
- Freeze funds and economic resources of any matched accounts as per paragraph 6 of the September 17, 2009 circular.
- Ensure your 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 this updated sanctions list?
The list is the 19th update from the UN Security Council's 1267/1989 Committee, received via the Ministry of External Affairs. The full list is available on the UN website at the URLs provided in the circular.
What action is required for existing accounts that match the list?
Banks must freeze the funds, financial assets, or economic resources of such accounts, following the procedure detailed in paragraph 6 of RBI circular DBOD.AML.BC. No. 44/14.01.001/2009-10 dated September 17, 2009.
Does this circular replace earlier instructions?
No, it updates the list referenced in the earlier circular DBOD.AML No. 14982/14.06.001/2012-13 dated April 17, 2013. The underlying UAPA Order of August 27, 2009 and its compliance procedures remain in effect.