Module: General Practice
Q51: Which of the following statements regarding sanctions list verification are correct?
Regulated Entities (REs) must verify the United Nations Security Council (UNSC) Sanctions Lists on a daily basis.
The daily verification includes the 'UNSCR 1718 Sanctions List' related to the Democratic People's Republic of Korea.
REs must also take into account the lists in the first and fourth schedules of the Unlawful Activities (Prevention) Act (UAPA), 1967.
The daily verification includes the 'UNSCR 1718 Sanctions List' related to the Democratic People's Republic of Korea.
REs must also take into account the lists in the first and fourth schedules of the Unlawful Activities (Prevention) Act (UAPA), 1967.
✅ Correct Answer: D
All three statements are correct.
Daily verification of UNSC lists and UAPA schedules is mandatory.
This strict adherence to sanctions is a critical component of RBI KYC Guidelines MCQs.
Daily verification of UNSC lists and UAPA schedules is mandatory.
This strict adherence to sanctions is a critical component of RBI KYC Guidelines MCQs.