And a company or entity financial funding terrorist activity would face a fine $2 million. In addition the person in charge of the company would be jailed for 25 years.
In piloting the Anti-Terrorism Amendment bill in the Senate National Security Minister Martin Joseph said financial institutions as well as non-profit organisations would be under scrutiny.
Joseph said the bill sends a strong signal that the financing of terrorism is a serious criminal offence. He explained that the bill will allow the Attorney General to make an ex parte application to freeze funds of organizations included on the list of terrorist entities, as designated by the United Nations Security Council.
However he said persons affected would have recourse to the courts "in the shortest possible time frame."
He said the bill requires businesses and financial institutions that suspect that funds are linked or are used for terrorism to report their suspicions to the competent authorities.
Joseph said the bill also allows a customs officer, police officer or officer of a law enforcement authority to seize cash where there are reasonable grounds to suspect that the money is intended to finance terrorist activity.
But Opposition Senator Wade Mark is not impressed and is demanding that the government withdraw the "obnoxious and offensive" legislation. He told the Senate his party won't support it because it infringes of the rights of individuals.
"We are not in support of any police officer having the right to invade somebody’s private account. There are too many corrupt officers," he said.
He suggested an amendment to give an inspector or higher ranking officer that right.
"I don’t understand how a Minister of National Security could bring to Parliament legislation to incorporate hodge-podge law enforcement agencies that remain illegal and unlawful, in order to give them the all-clear’ to invade people’s accounts," Mark said.
"We in the UNC are opposed to all forms and manifestations of terrorism ... but we would not compromise on the fundamental and human rights of the citizenry," he said.
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