What changed
The 22nd update to the UNSCR 1267/1989 Al-Qaida Sanctions List has been issued, reflecting deletions of certain individuals and entities. Banks must replace the previous 21st update list with this new version.
What it means for you
Banks must immediately update their internal sanctions screening systems to reflect the deletions in the Al-Qaida list. Failure to do so could result in non-compliance with UAPA obligations, leading to regulatory action. This ensures that accounts linked to removed entities are no longer frozen unnecessarily.
What you must do
- Update your sanctions screening database with the 22nd update of the UN Al-Qaida list, which includes deletions.
- Screen all new account applications against the updated list before onboarding customers.
- Scan all existing accounts to ensure no account is held by or linked to any entity or individual in the updated list.
- Ensure compliance with the UAPA Order of August 27, 2009, and the procedures in RBI circular DBOD.AML.BC. No. 44/14.01.001/2009-10.
- Have your Compliance Officer acknowledge receipt of this circular.
Who it affects
Scheduled Commercial Banks (excluding RRBs), Local Area Banks, All India Financial Institutions
What is the source of this sanctions list update?
The update is from the UN Security Council's 1267/1989 Committee, forwarded by the Ministry of External Affairs. The full list is available on the UN website.
Does this update include any new designations?
No. The update only includes deletions from the Al-Qaida Sanctions List. For freezing procedures related to designated individuals/entities, refer to the circular dated September 17, 2009.