What changed
The UNSC sanctions list under resolutions 1267/1989/2253 has been amended for four individuals: Mohamed Amin Mostafa, Said Jan 'Abd al-Salam, Iyad Ag Ghaly, and Abu Mohammed al-Jawlani. These amendments involve changes to names, aliases, passport details, and other identifying information. RBI has communicated these updates to all regulated entities via this circular.
What it means for you
Banks and other regulated entities must immediately update their screening databases to reflect these amendments. Failure to identify and freeze accounts linked to these individuals could lead to regulatory action. This reinforces the ongoing obligation to comply with UAPA and UNSC sanctions without delay.
What you must do
- Update your AML/KYC screening systems with the amended UNSC list entries for the four individuals mentioned.
- Cross-check all existing customer accounts and transactions against the updated list to identify any matches.
- Freeze and report any accounts or transactions linked to these individuals to the relevant authorities immediately.
- Ensure compliance with Section 51A of UAPA, 1967 and RBI's Master Direction on KYC for all future onboarding.
Who it affects
All scheduled commercial banks, Non-banking financial companies (NBFCs), Payment system operators, Other regulated entities under RBI's purview
What is the deadline for implementing these UNSC list updates?
The circular is dated November 15, 2023, and compliance should be immediate. There is no grace period specified; regulated entities must act promptly to update their screening systems and freeze any matched accounts.