Prevention of Organised Crime Act, 1998 (Act No. 121 of 1998)Chapter 3 : Offences relating to Proceeds of Unlawful Activities4. Money laundering |
Any person who knows or ought reasonably to have known that property is or forms part of the proceeds of unlawful activities and—
(a) | enters into any agreement or engages in any arrangement or transaction with anyone in connection with that property, whether such agreement, arrangement or transaction is legally enforceable or not; or |
(b) | performs any other act in connection with such property, whether it is performed independently or in concert with any other person, |
which has or is likely to have the effect—
(i) | of concealing or disguising the nature, source, location, disposition or movement of the said property or the ownership thereof or any interest which anyone may have in respect thereof; or |
[Section 4(b)(i) amended by section 6(b) of Act No. 24 of 1999]
(ii) | of enabling or assisting any person who has committed or commits an offence, whether in the Republic or elsewhere— |
(aa) | to avoid prosecution; or |
(bb) | to remove or diminish any property acquired directly, or indirectly, as a result of the commission of an offence, |
shall be guilty of an offence.