GAZETTE NOTICE NO. 13226

pursuant to section 55 (3) of the Retirement Benefits Act, section 36A (2) of the Proceeds of Crime and Anti- Money Laundering Act, 2009 and the Financial Action Taskforce (FATF) Recommendations which criminalize the offence of money laundering and terrorist financing. These Guidelines are intended to provide guidance to reporting institutions on their obligations under the Proceeds of Crime and Anti- Money Laundering Act and reduce the possibility of the reporting institutions being knowingly or unknowingly used for purposes connected with an offence involving proceeds of crime, fraud, theft or money laundering as defined under the Proceeds of Crime and Anti- Money Laundering Act. 1. These Guidelines may be cited as the Retirement Benefits (Anti-Money Laundering and Combating Financing of Terrorism) Guidelines, 2021. 2. In these Guidelines, unless the context otherwise requires— “Act” means the Retirement Benefits Act, 1997; “administrator” means a person appointed by trustees under a written instrument to manage the administrative affairs of the scheme in accordance with such terms and conditions as may be specified in the instrument of appointment; “Authority” means the Retirement Benefits Authority established by section 3 of the Act; “Centre” means the Financial Reporting Centre established under section 21 of the Proceeds of Crime and Anti-Money Laundering Act of , 2009; “high risk jurisdiction” means countries that— (a) have been identified by the Financial Action Taskforce, as jurisdictions with anti-money laundering deficiencies; or (b) have been identified by the Cabinet Secretary as having ongoing substantial money laundering and terrorism financing risks; “high risk person” means a person— (a) who is politically exposed; (b) who is involved in a cash intensive business; (c) whose origin of wealth and source of funds cannot be easily verified; or (d) who is from a high risk jurisdiction; “individual retirement benefits scheme” means a retirement benefits scheme established for the benefit of individual beneficiaries for purposes of paying a retirement benefit; “listed persons” means a person, organization, association or group of persons that is subject to targeted sanctions pursuant to the applicable United Nations Security Council Resolutions or an entity specified under section 3 of the Prevention of Terrorism Act, 2012; “member” means a member of a retirement benefits scheme including a person entitled to receive or receiving benefits under a retirement benefits scheme; “Cabinet Secretary” means the Cabinet Secretary for the time being responsible for matters relating to finance; “money laundering” has the meaning assigned to it under the Proceeds of Crime and Anti Money Laundering Act, 2009; “politically exposed person” has the meaning assigned to it under the Proceeds of Crime and Anti-Money Laundering Regulations, 2013; “person” means any natural or legal entity; “reporting institution” means the retirement benefits schemes and service providers registered by the Authority; “retirement benefits scheme” means any scheme or arrangement (other than a contract for life assurance) whether established by a written law for the time being in force or by any other instrument, under which persons are entitled to benefits in the form of payments determined by age, length of service, amount of earnings or otherwise and payable primarily upon retirement, or upon death, termination of service or upon the occurrence of such other event as may be specified in such written law or other instrument; “service provider” means an administrator, manager or custodian registered by the Authority and appointed by the scheme to provide services to the scheme; “sponsor” means a person who establishes a scheme; “suspicious transactions or activities” means any complex, unusually large transactions or any unusual pattern of transactions absent of any apparent economic, commercial or lawful purpose; “terrorism financing” means the process by which terrorist acts are funded and includes offences specified under section 2 of the Prevention of Terrorism Act, 2012; “terrorist group” has the meaning assigned to it in section 2 of the Prevention of Terrorism Act, 2012; 28th October, 2022 THE KENYA GAZETTE “trustee” means a trustee of a retirement benefits scheme and includes a trust corporation; and “UN Sanctions List” means a list that includes all the individuals and entities that the organization currently subjects to sanction measures. 3. (1) The purpose of these Guidelines is to provide guidance to reporting institutions on their obligations under the Proceeds of Crime and Anti- Money Laundering Act, 2009 and Prevention of Terrorism Act, 2012. (2) These Guidelines are also designed to reduce the possibility of the reporting institutions being knowingly or unknowingly used for purposes connected with an offence involving proceeds of crime, fraud, theft or money laundering as defined under the Proceeds of Crime and Anti- Money Laundering Act, 2009. (3) These Guidelines shall be read with the provisions of the Proceeds of Crime and Anti- Money Laundering Act, 2009, which provides among others that in determining whether there has been a failure to comply with that Act, consideration shall be taken on the guidelines issued by a supervisory body as well as the Preventions of Terrorism Act, 2012, that gives guidance on how to deal with terrorism financing. 4. (1) The money laundering process is accomplished in the following three stages and these stages may comprise of numerous transactions by the persons engaged in money laundering that could alert trustees and service providers of the criminal activity— (a) placement – in this phase, a person engaged in money laundering introduces his or her illegal profits into the financial system; (b) layering – in this phase, a person engaging in money laundering separates the illicit proceeds from their source by creating complex layers of financial transactions designed to disguise the audit trail and provide anonymity and the funds might be channeled through the purchase and sales of products in the sector such as investment into a pension fund, purchase of annuities or purchase of an income draw down; and (c) integration – this is the provision of apparent legitimacy to criminally derived wealth and places the laundered proceeds back into the legitimate economy in such a way that they re- enter the financial system. (2) Placement, layering or integration may occur as separate and distinct phases or alternatively, they may occur simultaneously or, more commonly, they may overlap and how the basic steps are used depends on the available laundering mechanisms and the requirements of the criminal organization. (3) Money laundering in the Retirement Benefits sector can take place in all the three stages, though it is more likely at the layering stages as the industry is no longer predominantely cash based. (4) While the risks in the industry are medium low it is important for schemes and service providers to have adequate policies and procedures to ensure determination, monitoring and evaluation of threats and vulnerability are in place. 5. (1) The Authority and its staff shall, in accordance with section 36 of the Proceeds of Crime and Anti- Money Laundering Act, report to the Centre any suspicious transaction or activities that it may encounter within the normal course of its duties in the form prescribed in the Proceeds of Crime and Anti Money Laundering Act. (2) The Authority and its staff shall, in accordance with section 36A (2) of the Proceeds of Crime and Anti- Money Laundering Act, supervise and enforce compliance with the Proceeds of Crime and Anti-Money Laundering Act or any instruction, direction, guidelines or rule made pursuant to or in terms of the Proceeds of Crime and Anti- Money Laundering Act. (3) The Authority shall conduct risk assessment of the sector to determine the level of money laundering and terrorism financing risk exposure. (4) The Authority shall update and share with the reporting institutions the database of the names and particulars of listed persons in the UN sanctions list and any other such lists as prescribed under the Prevention of Terrorism Act, 2012. (5) The Authority shall ensure reporting institutions— (a) comply with the Proceeds of Crime and Anti-Money Laundering Act and the Regulations made thereunder and these Guidelines; (b) have in place policies and procedures to ensure the determination, monitoring and evaluation of threats and vulnerability are in place; (c) periodically review the database shared by the Authority on the names and particulars of listed persons in the UN sanctions list and such lists as may be issued and check against the names of the registered members in schemes, and (d) adhere to provisions of the Preventions of Terrorism Act and the Regulations made thereunder. 6. (1) The overall responsibility of the reporting institutions shall be to— (a) establish policies and procedures for the prevention, detection, reporting and control of money laundering and financing of terrorism activities; and (b) promote a strong risk and compliance framework and develop monitoring and reporting mechanisms to support anti-money laundering and combating financing of terrorism controls. (2) In specific, the reporting institution shall— (a) receive sufficient, regular and objective information and reports to assess the money laundering and terrorism financing risk to which the institution is exposed through its activities and business relationships and the effectiveness of the controls; (b) ensure remedial actions are taken on a timely basis regarding recommendations made by internal and external auditors in respect of the anti-money laundering and combating financing of terrorism programme; (c) ensure training is provided to all relevant categories of staff, including the Money Laundering Reporting Officer, on an ongoing basis which enables them to effectively discharge their anti-money laundering and combating financing of terrorism responsibilities; and (d) ensure that compliance and internal audit functions are provided with sufficient resources, including staff and Information Technology (IT) resources, to execute all responsibilities effectively. 7. (1) A reporting institution shall designate a Money Laundering Reporting Officer who shall be in charge of the application of the internal policies that combat money laundering and terrorism financing. (2) The Money Laundering Reporting Officer shall be of management level and shall have relevant and necessary competence, authority and independence. (3) The appointment or removal of the Money Laundering Reporting Officer shall be communicated to the Centre and the Authority within fourteen days of the appointment or removal. (4) An internal auditor and a chief executive officer shall not qualify to be appointed as a Money Laundering Reporting Officer. 8. (1) The Money Laundering Reporting Officer shall ensure that— (a) they are informed of all suspicious activities available to the reporting institution and take action on suspicious disclosures from officers and employees of the reporting institution as soon as practicable so as not to delay the reporting of such disclosures; (b) where a disclosure is made, they apply internal risk- management procedures on a suspicious transaction or activities; (c) they report disclosures deemed suspicious to the Centre; (d) officers and employees of the reporting institution are made aware of the Act as well as the audit systems adopted by the reporting institution; and 8018 8018 (e) persons are screened before being hired as employees of the reporting institution. (2) Where the Centre receives a report made by a Money Laundering Reporting Officer pursuant to paragraph (1)(c), it shall acknowledge receipt of the report forthwith. 9. (1) A reporting institution shall register with the Centre in accordance with section 4 of the Proceeds of Crime and Anti- Money Laundering Act, 2009 and shall thereafter notify the Authority. (2) A reporting institution shall notify the Centre and the Authority, in writing, of any changes to the particulars furnished while registering within ninety days after such change. (3) Any reporting institution that fails to register with the Centre as required in paragraph (1) commits an offence under the Proceeds of Crime and Anti- Money Laundering Act, 2009. 10. The Centre shall, in addition to functions set out under the Proceeds of Crime and Anti- Money Laundering Act, 2009— (a) implement a registration system in respect of all reporting institutions; (b) supervise and enforce compliance with the Proceeds of Crime and Anti- Money Laundering Act or any directive, guidelines or rules made in terms of the Proceeds of Crime and Anti- Money Laundering Act; (c) annually review the implementation of the Proceeds of Crime and Anti- Money Laundering Act and submit a report thereon to the Cabinet Secretary; and (d) receive, analyze, and disseminate intelligence to law enforcement authorities. 11. (1) A reporting institution shall formulate, adopt, and implement internal policies and procedures to combat money laundering and financing of terrorism in schemes. (2) These policies and procedures shall include— (a) adopting an independent audit function to check compliance by the reporting institution with the Act and Regulations made thereunder; (b) programmes for assessing risks relating to money laundering; (c) the formulation of a control policy that shall cover issues of timing, degree of control, areas to be controlled, responsibilities and follow-up; (d) monitoring programmes in relation to complex, unusual or large transactions or suspicious activities; (e) customer due diligence and enhanced due diligence procedures; (f) providing employees, including the Money Laundering Reporting Officer, from time to time, with training to facilitate recognition and handling of suspicious transactions or activities; (g) making employees aware of the procedures under the Proceeds of Crime and Anti- Money Laundering Act, Preventions of Terrorism Act and the Regulations made thereunder as well as these guidelines and any other relevant policies that are adopted by the reporting institution; (h) providing for the necessary processes and working methods including a manual of compliance procedures to ensure adherence to the Proceeds of Crime and Anti-Money Laundering Act; and (i) providing for the responsibility of the management of the reporting institution in respect of compliance with the Proceeds and Crime and Anti-Money Laundering Act. (3) Review the internal policies and procedures at least once every two years taking into account changes in the retirement benefits sector and provisions of the relevant laws on anti-money laundering and combating financing of terrorism. (4) Communicate the policies to all staff whether in local or overseas branches, departments or subsidiaries. 12. (1) A reporting institution shall— (a) adopt a risk-based approach in undertaking a risk assessment to enable them identify, assess, monitor, manage and mitigate risks associated with money laundering and terrorism financing; (b) develop a methodology to be utilized in assessing the level of each risk factor; (c) perform a risk rating on their customers at the beginning of a client relationship as part of the customer due diligence requirements and ongoing basis to existing clients based on the materiality and risk at appropriate times; (d) keep records of results of assessment with commensurate control measures documented to mitigate the risks identified; and (e) submit any information relating to risk assessment upon request by the Authority. (2) In determining money laundering risk rating of members, trustees shall take into account the following— (a) the nature and manner of joining the scheme; (b) background of the member, when conducting customer due diligence; (c) country risk such as the origin of the member, residence or connection with a high risk jurisdiction; (d) the members’ financial background and where possible to ascertain whether the amount of contribution including additional voluntary contribution paid into the scheme are consistent with the source of income; (e) means of contribution; (f) risks associated with non-face-to-face transactions; and (g) any other information that may suggest that the member is a high risk person. (3) In determining the money laundering risks of a scheme, service providers shall take into account— (a) the identity of the sponsor establishing the scheme; (b) the nature of business the sponsor conducts; (c) the number of politically exposed persons in the scheme; and (d) any other factor considered relevant by the service provider. (4) A reporting institution shall update its risk assessment policies or programs regularly but at least once every two years taking into account changes such as the entry of the institution into new markets and the introduction of new products and services. 13. (1) Customer due diligence measures are to be undertaken by a reporting institution to enable it achieve the following objectives— (a) identify the customer and verify that customer’s identity using reliable, independent source documents, data or information; (b) identify the beneficial owner, and take reasonable measures to verify the identity of that beneficial owner; (c) understand and, as appropriate, obtain information on the purpose and nature of the business relationship; and (d) conduct on going due diligence on the business relationship and scrutiny of transactions undertaken throughout the course of that relationship to ensure that the transactions being conducted are consistent with the reporting institution’s knowledge of the customer, their business and risk profile, including where necessary the source of funds. (2) A reporting institution shall identify its customers in the following circumstances— (a) when establishing initial business relations; (b) when undertaking occasional or one-off transactions; (c) when there is cause to be suspicious; and 28th October, 2022 THE KENYA GAZETTE (d) when there is doubt about veracity or adequacy of previously obtained customer information. (3) The trustees shall ensure that there are policies and procedures in place for— (a) obtaining proper identification and background information when registering a member; (b) verifying, using reliable independent sources, the identity of the member upon registering or as soon as possible thereafter; (c) maintaining the identification information; and (d) conducting ongoing monitoring of member information. (4) The policies and procedures shall provide that the administrator verifies the identity of the member in the following circumstances— (a) when the member is joining the scheme; (b) when the member accesses his or her benefits or makes use of his or her benefits for any purpose allowed under the Act and any Regulations made thereunder; (c) when a member changes the details on the beneficiary list; (d) when there is doubt about the veracity or adequacy of previously obtained member identification information; (e) where the member contributes a substantial or significant sum of money relative to usual contributions; (f) where contributions are received from high risk jurisdictions; and (g) when there is any other cause to be suspicious. (5) When establishing the identity of a person, trustees shall ensure that the administrator takes into account— (a) in the case of an individual— (i) name of the customer; (ii) a birth certificate, national identity card, driver’s licence, passport or any other official means of identification as may be prescribed; (iii) evidence of current postal and physical address; (iv) sources of income, including origin of funds; (v) nature of business activity, where applicable; and (vi) income tax personal identification number (PIN). (b) in the case of a company— (i) its registered name; (ii) evidence of registration or incorporation (iii) any Act establishing the body corporate; (iv) address of the company’s principal place of business; (v) certified copy of board resolution stating authority to transact business with the reporting institution; (vi) the full names, date of birth, identity or passport number and address of the natural persons managing, controlling or owning the body corporate or legal entity; (vii) for corporate bodies, audited financial statements for the last full year; (viii) for sole traders, un-audited financial statements for the last full year: Provided that an exemption may be considered by a reporting institution for a new sole proprietorship business in the production of audited accounts or un-audited accounts if there exist practical difficulties in obtaining financial statements from it; (ix) income tax personal identification number (PIN). (c) without prejudice to the foregoing, where the company is a foreign registered company— (i) the full address of the company’s registered office; (ii) details of the country in which the company was formed, incorporated or registered; (iii) any identification number issued to the company; and (iv) such other document or particulars as the Centre may from time to time prescribe. (6) When establishing the identity of a scheme, service providers shall take into account— (a) its registered name; (b) its registration number; (c) certificate of registration issued by the Authority; (d) trust deed and rules or written law establishing it; (e) details of its registered office; (f) names of the trustees; (g) any other documentation from a reliable independent source proving the name, form and current existence of the scheme; and (h) such other document or particulars as the Centre may from time to time prescribe. (7) In the case of a government department, a letter from the accounting officer. (8) Where a reporting institution classifies a customer to be of high risk or classifies a scheme to have a high risk rating, they shall perform enhanced due diligence which may include— (a) determining the expected volume and nature of account activity; (b) reviewing public sources of information on the person; (c) establishing the source of funds involved in the proposed business relationship; (d) obtaining information on the immediate family members or close associates of the person; and (e) assigning a designated staff to serve the person. (9) Ongoing due diligence is recommended after a business relationship has been established to ensure that the records before inception of the business relationship are consistent with the client’s operations and circumstances that may prompt one to carry out ongoing due diligence include— (a) event driven reviews such as— (i) changes in a member’s risk profile; (ii) a member becoming a politically exposed person (PEP); (iii) suspicion that a member may be engaging in money laundering activities; (iv) negative media publicity on the member or scheme; (v) at the commencement of new engagements and when planning for recurring engagements; or (vi) where the customer has ventured into business in a high- risk jurisdiction. (b) periodic reviews that are prompted by the risk category of the client. For instance, high risk clients to be reviewed yearly, medium risk after two years and low risk customers after a period of three years at a minimum. (10) The prior written approval of the governing body of the reporting institution shall be required to establish a relationship or transact with a high risk person and schemes identified as high risk. 14. Trustees and administrators shall implement specific measures to mitigate the risk posed by non-face-to face transactions including— (a) completion of on-line application forms for new members with information capable of independent verification; 8020 8020 (b) certification of identity documents; (c) confirmation of the member’s address; (d) independent contact with the member by the administrator as soon as is practical; (e) requiring the payment of contributions through an account in the customer’s name; and (f) any other reliable verification checks that may be adopted. 15. (1) A reporting institution shall develop relevant mechanism for detection of suspicious transactions or activities and report such transactions to the Centre. (2) The mechanism developed under sub-paragraph (1) shall be able— (a) to detect patterns of unusual or suspicious activity, particularly in relation to high risk persons; and (b) to identify transactions that are unusual either in terms of amount, frequency, type of transaction or other relevant risk factors. (3) A suspicious transaction is a transaction which— (a) gives rise to a reasonable suspicion that it may involve— (i) the laundering of money or the proceeds of any crime; or (ii) funds linked or related to, or to be used for, terrorism or acts of terrorism or by prescribed organisations, whether or not the funds represent the proceeds of crime; (b) is made in circumstances of unusual or unjustified complexity; (c) appears to have no economic justification or lawful objective; or (d) is made by or on behalf of a person whose identity has not been established to the satisfaction of the person with whom the transaction is made. (4) Suspicious transactions may include— (a) any unusual financial activity of the member in the context of the member’s normal activities; (b) any unusual use of an intermediary in the course of some usual transaction or financial activity; (c) any unusual method of payment; or (d) any involvement of any person subject to international sanctions. (5) The unusual or suspicious transaction reports shall be handled by the Centre in accordance with the provisions of the Proceeds of Crime and Anti-Money Laundering Act. 16. (1) A reporting institution shall— (a) establish screening procedures when hiring employees taking into account the risks identified in the entity’s risk assessment; (b) establish policies, procedures and controls for the regular vetting of senior managers, the Money Laundering Reporting Officer (MLRO) and any other employee whose role involves anti money laundering and combatting financing of terrorism duties; (c) ensure that the Money Laundering Reporting Officer receives in-depth training concerning all aspects of relevant legislation, guidelines and policies and procedures on the detection, deterrence and prevention of money laundering; and (d) ensure that the trustees themselves and the staff and management of service providers are sensitized and trained on money laundering. (2) The training and sensitization shall be on— (a) the nature and processes of money laundering and terrorism financing, including new developments and current money laundering and terrorism financing techniques, methods and trends; (b) internal policies and reporting procedures, including particular emphasis on verification and the recognition of high risk persons or suspicious transactions and the need to report suspicions to the Money Laundering Reporting Officer; (c) the responsibility and tasks to be undertaken by staff regarding anti-money laundering and combating financing of terrorism; (d) the prevailing anti-money laundering and combating terrorism financing regulatory framework changes; (e) the application of the anti-money laundering and combating financing of terrorism, including frequency and delivery methods; and (f) how employees are assessed for knowledge, application and retention of the anti-money laundering and combating financing of terrorism information. 17. (1) A reporting institution shall ensure that— (a) all requirements imposed by law relating to records and documentation are met; (b) all records of customers, business relationship and transactions remain up-to-date, relevant and accessible; (c) any transaction undertaken can be reconstructed so as to provide, if necessary, evidence for prosecution of criminal activity; and (d) the records can be accessed and shared within a reasonable time or such period imposed by law, where any inquiry or order is made by the Authority, the Centre or any other competent authority. (2) A reporting institution shall undertake periodic reviews of existing customer records provided that such review must be done at least every three years. (3) A reporting institution shall retain documents and records pertaining to a matter which is under investigation for such longer period as may be necessary in accordance with any request or order from the Authority, the Centre or from other competent authorities. (4) A reporting institution shall maintain and keep records of all transactions for a minimum period of seven years from the date the relevant business or transaction was completed or following the termination of a business relationship or after membership ceases. (5) Retention may be in form of original documents, or in any electronic form accepted as evidence under the Evidence Act. (6) The provisions of the Data Protection Act, 2019 and any other written law shall apply in processing of personal data and records under this clause, in so far as the said provisions are applicable and not inconsistent with the Retirement Benefits Act and Regulations made thereunder. 18. (1) A reporting institution shall take reasonable measures to prevent the abuse of new products, services and technologies for money laundering purposes. (2) A money laundering risk assessment shall be conducted prior to the introduction of a new product, new business practice or new technology for both new and pre-existing products so as to assess money laundering risks in relation to— (a) a new product and a new business practice, including a new delivery mechanism; and (b) new or developing technologies for both new and pre-existing products. (3) The outcome of such assessment shall be documented and be availed to the Centre or the Authority upon request. 19. (1) A reporting institution shall report to the Centre immediately and maintain a register of— (a) any suspicious activity or transactions that may indicate money laundering or other related crime; and (b) where it has reasonable grounds to believe that it holds any property or account that is owned or controlled by or on behalf of a terrorist group. 28th October, 2022 THE KENYA GAZETTE (2) A reporting institution shall submit to the Centre, with a copy to the Authority, an annual compliance report detailing compliance with the Proceeds of Crime and Anti- Money Laundering Act and the reporting institution’s internal anti-money laundering rules and the Centre shall acknowledge receipt of the report. (3) All reports shall be in the form and manner prescribed in the Proceeds of Crime and Anti-Money Laundering Act and Regulations thereunder. (4) A reporting institution shall put in place internal reporting procedures which shall clearly set out what is expected of individuals who discover suspicions or obtain knowledge of possible money laundering. (5) After a suspicious transaction report has been submitted the transaction need not stop unless the Centre instructs otherwise. (6) The Centre or other law enforcement authority may seek further information about a suspicious transaction report and such information shall be provided in full and in a timely manner. (7) All details of internal reports and registers of suspicious activity shall be held by the Money Laundering Reporting Officer and excluded from a member’s files to ensure avoidance of inappropriate disclosure of information and protection against the risk of tipping off. 20. A reporting institution shall maintain an independent and adequately resourced audit function which regularly assesses the effectiveness of their internal policies, procedures and controls, and its compliance with regulatory requirements as related to anti-money laundering and combatting of financing terrorism. 21. (1) A person shall not disclose to an unauthorized person when a suspicious transaction report is being prepared, has been or is about to be sent to the Centre as required. (2) A reporting institution shall ensure that the reporting of suspicious transactions is done securely in order to maintain confidentiality and secrecy. 22. (1) A reporting institution may rely upon a third party to perform any part of the customer due diligence measures specified in these guidelines. (2) Where a reporting institution relies on a third party, the ultimate responsibility for ensuring that the customer due diligence requirements are met remains with the reporting institution. 23. A reporting institution shall identify the beneficial owner, and take reasonable measures to verify the identity of the beneficial owner, such that the reporting institution is satisfied that it knows who the beneficial owner is and it understands the ownership and control structure of the customer in case of legal persons and arrangements. 24. (1) A reporting institution shall maintain a database of names and particulars of listed persons in the United Nations Sanctions List and such lists as may be issued by the entity specified under section 3 of the Prevention of Terrorism Act, 2012. (2) A reporting institution shall conduct regular checks in intervals not exceeding six months on the names of new members, as well as regular checks on the names of existing and potential members, against the names in UN Sanctions List and such lists as may be issued by the entity specified under section 3 of the Prevention of Terrorism Act, 2012. (3) Where a reporting institution matches a name of a member with a name in its sanctions list database, it shall take reasonable and appropriate measures as required by the Prevention of Terrorism (Implementation of the United Nations Security Council Resolutions on Suppression of Terrorism) Regulations, 2013. Dated the 12th November, 2021. NZOMO MUTUKU, Chief Executive Officer, PTG No. 1132/22-23 Retirement Benefits Authority.