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Proceeds of Crime Act, 1996 (Act No. 76 of 1996)

Chapter 5 : Offences

28. Money laundering

 

 

Any person who, knowing or having reasonable grounds to believe that property is or forms part of the proceeds of crime—

(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 its ownership or any interest which anyone may have in respect thereof; or
(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.