RBI mandates regulated entities to implement amendments to three UNSC sanctions entries under Section 51A of UAPA, requiring immediate compliance.
RBI Enforces Updated UNSC Sanctions Under UAPA
The Reserve Bank of India has directed all regulated entities to comply with amendments to three sanctions entries under the ISIL (Da’esh) and Al-Qaida regime of the United Nations Security Council (UNSC), pursuant to Section 51A of the Unlawful Activities (Prevention) Act, 1967 (UAPA).
The circular mandates immediate updating of watchlists and freezing of funds linked to designated individuals and entities. Amendments involve name corrections, aliases, and entity designations, ensuring alignment with global counter-terrorism financing standards.
Financial institutions must conduct retrospective screening and report compliance to RBI within seven days. Failure to comply may attract penal action under anti-money laundering and counter-terrorist financing frameworks.
