What changed
The UNSC's 1267/1989 Sanctions List has been amended for 8 individuals, as notified by MEA via UNSC press release SC/14473 dated March 23, 2021. RBI has communicated this update to all regulated entities, requiring them to incorporate these changes into their compliance checks.
What it means for you
Banks and other regulated entities must immediately screen their customer databases against the updated list and freeze any assets or accounts linked to these 8 individuals. Non-compliance with Section 51A of UAPA, 1967 can lead to regulatory action. This is a routine but critical update to ensure alignment with international sanctions.
What you must do
- Update your internal sanctions screening systems with the 8 amended entries from the UNSC list.
- Review existing customer accounts and transactions for any matches with the newly amended individuals.
- Ensure compliance with Section 51A of UAPA, 1967 and RBI's KYC Master Direction.
- Forward any delisting requests received from customers to Joint Secretary (CTCR), MHA electronically.
Who it affects
All Scheduled Commercial Banks, All Non-Banking Financial Companies (NBFCs), All Payment System Operators, All other RBI-regulated entities
What is the source of this sanctions list update?
The update comes from the UNSC Committee established under Resolutions 1267, 1989, and 2253, and was forwarded to RBI by the Ministry of External Affairs.
How should we handle a customer who claims to be wrongly listed?
Per MHA instructions, forward any delisting request electronically to Joint Secretary (CTCR), MHA. Customers can also approach the UN Ombudsperson for delisting.
Where can we find the full updated sanctions list?
The updated lists are available on the UNSC website at www.un.org/securitycouncil/sanctions/1267/aq_sanctions_list and for Taliban at the 1988 materials link.