Golden Finance reported that a South African law enforcement agency recently arrested a 35-year-old man on suspicion of using cryptocurrency to fund terrorist activities. The investigation was launched in May 2018 when the Financial Intelligence Center (FIC) and the Investigation Team received information about suspicious transactions suspected of being linked to terrorist financing. It is alleged that on November 30, 2017, the suspect purchased $614 worth of Bitcoin through the virtual asset service provider Luno and transferred the funds from the suspect's bank account to Luno's escrow account. Subsequently, the Bitcoins were Transfer to another wallet associated with an unnamed “independent” organization. South African law enforcement said a preliminary investigation showed the funds were diverted to provide weapons, financial aid and other projects to "actors" in another country. After determining the purpose of the funds, South African law enforcement raided the suspect's home on October 24 with a search warrant and seized multiple items, including firearms that were not locked in a safe place as required by law. The man is expected to appear in Lichtenburg District Court on January 6.