What changed
The Ministry of External Affairs forwarded a UNSC press release (SC/14489, April 6, 2021) amending the ISIL (Da'esh) & Al-Qaida Sanctions List by adding one individual: Abu Bakar Ba'asyir. Regulated entities must now screen against this updated list and continue daily verification of the UNSCR 1718 DPRK sanctions list on the MEA website.
What it means for you
Banks and other regulated entities must immediately update their AML/KYC screening systems to include the new UNSC designation. Failure to freeze assets or block transactions for listed individuals could lead to regulatory action under UAPA. The circular also reinforces the need for daily checks on DPRK sanctions lists, increasing operational vigilance.
What you must do
- Update your sanctions screening database with the new UNSC ISIL/Al-Qaida list entry for Abu Bakar Ba'asyir.
- Verify daily the UNSCR 1718 DPRK sanctions list on the MEA website for any changes.
- Forward any delisting requests received from customers to Joint Secretary (CTCR), MHA electronically.
- Ensure compliance teams are aware of the Ombudsperson process for delisting requests via the UN website.
Who it affects
All regulated entities (banks, NBFCs, payment systems, etc.), AML/KYC compliance teams, Sanctions screening operations
What is the key change in this circular?
The UNSC amended its ISIL/Al-Qaida sanctions list to include one new individual, Abu Bakar Ba'asyir. Regulated entities must freeze assets and block transactions for this person.
How often must we check the DPRK sanctions list?
The circular mandates daily verification of the UNSCR 1718 DPRK sanctions list on the MEA website to capture any additions, deletions, or modifications.
What should we do if a customer requests delisting from the UN sanctions list?
Forward the request electronically to Joint Secretary (CTCR), Ministry of Home Affairs. Customers can also approach the UN Ombudsperson directly via the UN website.