What changed
RBI received a January 24, 2011 note from the UN Security Council's 1267 Committee with changes to the Consolidated List of individuals/entities linked to Al-Qaida and Taliban. This supersedes the previous list circulated via circular dated January 20, 2011. Banks must now use this updated list for compliance.
What it means for you
Banks must immediately update their internal screening databases with the revised UN list. Failure to identify and freeze accounts of designated entities could lead to regulatory action. This reinforces the strict KYC/AML framework under the UAPA Order of August 27, 2009.
What you must do
- Update the consolidated list of terrorist individuals/entities as per the new UNSC 1267/1822 list available on the UN website.
- Screen all new account openings against the updated list before onboarding.
- Scan all existing accounts to identify any linked to or held by listed individuals/entities.
- Freeze funds, financial assets, or economic resources of designated persons as per paragraph 6 of the September 17, 2009 circular.
- Ensure Compliance Officer/Principal Officer acknowledges receipt of this circular.
Who it affects
All Scheduled Commercial Banks (excluding RRBs), Local Area Banks, All India Financial Institutions
Where can I find the complete updated list?
The full consolidated list is available on the UN website at http://www.un.org/sc/committees/1267/consolist.shtml.
What action is required for existing accounts?
Banks must scan all existing accounts to ensure no account is held by or linked to any entity or individual on the updated list, and freeze assets as per the UAPA Order procedure.
Do we need to acknowledge receipt of this circular?
Yes, the Compliance Officer/Principal Officer should acknowledge receipt of this circular letter.