According to ChainCatcher news and reports from News.bitcoin, a South African law enforcement agency recently arrested a 35-year-old man suspected of using cryptocurrency to fund terrorism. The investigation began in May 2018 when the Financial Intelligence Centre (FIC) and investigative teams received information about suspicious transactions related to alleged terrorism financing.
It is alleged that on November 30, 2017, the suspect purchased bitcoin worth $614 through the virtual asset service provider Luno and transferred funds from the suspect's bank account to Luno's escrow account. Subsequently, these bitcoins were transferred to another wallet associated with an unnamed 'independent' organization.
South African law enforcement stated that preliminary investigations showed that these funds were transferred to provide weapons, economic aid, and other projects to 'participants' in another country. After determining the purpose of the funds, South African law enforcement executed a search warrant on October 24 at the suspect's residence, seizing multiple items, including firearms that were not stored in a secure place as required by law. The man is expected to appear in the Lichtenburg Magistrate's Court on January 6.
