RBI asks banks to report suspect transactions

To track terror funding, the Reserve Bank of India (RBI) has directed banks to submit reports on accounts relating to persons and organistions having links with Al-Qaeda terror group that includes underworld don Dawood Ibrahim and Lashker-e-Taiba Chief Hafeez Saeed.

The RBI directive came a day after the United Nations issued a composite list of individuals, entities and other undertakings associated with the Al-Qaeda terror group.

In a letter to chairmen and CEOs of all scheduled commercial banks, local area banks and financial institutions, the RBI said, "Utmost care should be taken by banks to ensure cross checking of all account opening applications and transactions carried out in the existing accounts with the updated consolidated list (of the UN).

Banks and others were also asked to report to the RBI and Financial Intelligence Unit-India those accounts which bear resemblance to the individuals and entities listed (by the UN)

The UN on Monday issued a fresh list of terrorist organisations and individuals, which include underworld don Dawood Ibrahim Kaskar, LeT chief Hafeez Mohd Saeed and mastermind of Mumbai attacks accused Zaki-ur-Rehman Lakhvi, in addition to Osama bin Laden, Al-Qaeda and Taliban.

The Global Relief Foundation, which is a listed relief organisation having branches in India as well, has also been named as entities associated with Al-Qaeda.

The list also names terror outfits like Lashkar-e-Taiba, Jaish-e-Mohammad and Harkat-ul-Mujahedeen, which are active in India, especially in Jammu and Kashmir.