Section 4 of the POCDATARA Act expressly prohibits any person from dealing with property that is associated with acts of terrorism, with persons or organisations that carry out acts of terrorism or with entities that are sanctioned pursuant to the POCDATARA Act.

Property here does not only mean money, but can also include cars, jewellery, etc.

Where your organisation files a report in terms of section 28A of the FIC Act (property associated with terrorism), this will lead to a requirement to freeze the property and stop doing business with the customer.

The FIC will provide the instruction to freeze the assets of the customer. Any assets of the customer which are in the organisation’s possession must be kept intact. The assets may not be distributed to the customer or third party. The Asset Forfeiture Unit (AFU) will take the responsibility of actions associated with asset forfeiture and where this applies, instruction will be taken from them.

Any dealings with property that is identified in a report under section 28A of the FIC Act is a criminal offence.