What changed
RBI issued a circular on February 11, 2011, forwarding a UN Security Council 1267 Committee note dated February 9, 2011, with changes to the consolidated list of individuals/entities linked to Al-Qaida and Taliban. Banks must update their records with this revised list and ensure compliance with earlier UAPA-related instructions.
What it means for you
Banks and All India Financial Institutions must immediately update their internal databases with the latest UNSC 1267/1822 list. They are required to screen all new account applicants against this list and review existing accounts for any matches, taking freezing actions as per the September 17, 2009 circular.
What you must do
- Update the consolidated list of terrorist individuals/entities from the UN website and RBI circular.
- Screen all new account openings against the updated list before onboarding.
- Scan all existing accounts to identify any linked to listed entities or individuals.
- Follow the freezing procedure outlined in paragraph 6 of the September 17, 2009 circular for any matches.
- 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
What is the source of the updated list?
The list is from the UN Security Council's 1267 Committee, as forwarded by the Government of India (Ministry of External Affairs) via a note dated February 9, 2011.
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 consolidated list.
Where can I find the complete consolidated list?
The full list is available on the UN website at http://www.un.org/sc/committees/1267/consolist.shtml.