Page 179 - FIC ANTI MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING LEGISLATION

Chapter 3 I POCA 177
(b) the said proceeds of unlawful activities are used to make funds available to the said other person or to acquire property on his or her behalf or to benefit him or her in any other way,
shall be guilty of an offence.
6. Acquisition, possession or use of proceeds of unlawful activities
Any person who—
(a) acquires;
(b) uses; or
(c) has possession of,
property and who knows or ought reasonably to have known that it is or forms part of the proceeds of unlawful activities of another person, shall be guilty of an offence.
7. ...
7A. Defence
(1) If a person is charged with committing an offence under section 2(1)(a) or (b), 4, 5 or 6, that person may raise as a defence the fact that he or she had reported a knowledge or suspicion in terms of section 29 of the Financial Intelligence Centre Act, 2001.
(2) If a person who is an employee of an accountable institution as defined in the Financial Intelligence Centre Act, 2001, is charged with committing an offence under section 2(1)(a) or (b), 4, 5 or 6, that person may also raise as a defence that fact that he or she had—
(a) complied with the applicable obligations in terms of the internal rules relating to the reporting of information of the accountable institution; or
(b) reported the matter to the person charged with the responsibility of ensuring compliance by the accountable institution with its duties under that Act; or