What changed
The UN Security Council removed one individual, Yassine Chekkouri (Morocco, DOB 6 Oct 1966), from the ISIL (Da'esh) and Al-Qaida Sanctions List effective August 23, 2024. RBI has communicated this change to all regulated entities, advising them to update their compliance checks accordingly.
What it means for you
Banks and other regulated entities must promptly update their sanctions screening databases to reflect the removal of this entry. Failure to align with the updated list could result in non-compliance with UAPA obligations. Entities must also continue to follow the established procedure for handling any de-listing requests from customers.
What you must do
- Update your sanctions screening systems to remove Yassine Chekkouri from the blocked list.
- Verify that no existing accounts or transactions are frozen solely due to this now-removed entry.
- Remind staff to forward any de-listing requests from customers to Joint Secretary (CTCR), MHA as per existing instructions.
- Monitor the UNSC press releases and updated sanctions lists regularly for future changes.
Who it affects
All scheduled commercial banks, Non-banking financial companies (NBFCs), Payment system operators, Other regulated entities under RBI's KYC Master Direction
What is the significance of this UNSC list update for my bank?
The UNSC removed one individual from its ISIL/Al-Qaida sanctions list. Your bank must update its screening systems to stop blocking that individual and ensure compliance with UAPA Section 51A.
How should my bank handle de-listing requests from customers?
Any de-listing request received must be forwarded electronically to Joint Secretary (CTCR), Ministry of Home Affairs. Customers can also approach the UN Ombudsperson directly for delisting.
Where can I find the latest sanctions lists?
The updated lists are available on the UNSC website at www.un.org/securitycouncil/sanctions/1267/aq_sanctions_list and for Taliban at www.un.org/securitycouncil/sanctions/1988/materials.