South Africa: Cleaning Dirty Money - It's Easy With a Cash-in-Transit Vehicle

Testimony at the Zondo commission links a financial services business to the laundering of money allegedly stolen from the North West government.

The State Capture commission on Monday, June 24, heard how a cash-in-transit company helped launder R9-million from an alleged corrupt deal between the North West government and SA Express (SAX).

Asset Movement Financial Services (AMFS) director Kalandra Viljoen said her former company provided cash-in-transit services - but the commission heard how it was operating as a bank and flouting laws that combat money laundering.

Evidence leaders traced R9-million from the North West government and SAX to AMFS, which was then paid to a businessman previously alleged to have used Viljoen's company to help launder money stolen from a Namibian bank.

Rather than simply transporting money, AMFS clients would deposit funds into the company's account. After a client confirmed a deposit with Viljoen, the cash would be delivered to the client's address in an unmarked cash-in-transit vehicle.

Viljoen, who left the company in late 2017, said the company was handling R500-million a month in transactions at its peak between its establishment in 2015, and its 2018 liquidation.

AMFS received three payments between May and September 2015 totalling R9-million. Viljoen...

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