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Submit reports of suspect transactions, RBI tells banks

Submit reports of suspect transactions, RBI tells banks
PTI
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First Published: Wed, Aug 12 2009. 11 14 PM IST
Updated: Wed, Aug 12 2009. 11 14 PM IST
Mumbai: In a move to track terror funding, the Reserve Bank of India on Wednesday directed banks to submit reports on accounts maintained by persons and organisations bearing resemblance to terrorists and their outfits in the fresh list issued by the United Nations.
The UN on Monday issued a list of terrorist organisations and individuals, and which includes the names of the mastermind of Dawood Ibrahim Kaskar, the 1993 bomb blasts in Mumbai, Lashkar-e-Taiba chief Hafeez Mohd Saeed and Mumbai November 2008 attacks’ accused Zaki-ur-Rehman Lakhvi, as well as Osama bin Laden, al Qaeda and the Taliban. The UN list identifies Dawood Ibrahim as a resident of Pakistan with two houses in Karachi.
“Utmost care should be taken by the banks to ensure and cross check all account opening applications and transactions carried out in the existing accounts with the updated consolidated list (of the UN),” RBI said in a communication to heads of all banks and financial institutions.
It also asked the banks to report transactions which “bear resemblance with the individuals and entities listed” to RBI as well as the Financial Intelligence Unit-India.
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First Published: Wed, Aug 12 2009. 11 14 PM IST
More Topics: RBI | UN | Terrorism | al Qaeda | Taliban |