Racketeering and money laundering are both offences which run hand in hand. In the past these offences were not part of our legal system but since the introduction of the Prevention of Organised Crime Act, No 121 of 1998 (POCA) it has now become a criminal offence and our legislation is now in line with international law enforcement agencies in this regard.
In both instances a conviction for money laundering and racketeering carries massive fines of up to R200 million and could include life imprisonment.
Racketeering and money laundering were specifically adopted in the South African law due to the fact that there were inadequate measures to enable law enforcement agencies to investigate and prosecute gangs and mafia type organisations.
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