Abstract
The purpose of this study is to comparatively assess the laws of targeted financial sanctions in
South Africa with other jurisdictions. Targeted financial sanctions involve the freezing of
assets and prohibitions to prevent funds or other assets from being made available, either
directly or indirectly, for the advantage of targeted (or “designated”) persons and entities. Such
targeted measures are increasingly being utilised for a plethora of different purposes including
counterterrorism and non-proliferation.
This analysis is necessary within the context of both South African and global
accountable and reporting institutions, as it is imperative to assess how effective each targeted
financial sanctions framework is, particularly within the context of disrupting terrorist
financing and preventing weapons proliferations. The aim of this is to provide full coverage of
South Africa’s international obligations in relation to targeted financial sanctions. However,
the current regulatory framework is not perfect and there is room for improvement.
This study further shows that while the sanctions regimes of certain jurisdictions have
emerged as important regimes within the international community, that these targeted financial
sanctions frameworks may not be as effective as initially thought and that this may require an
introspective assessment into sanctions enforcement and compliance at both domestic and
international levels.
Lastly, the focus is on how impactful sanctions have been within the current global sphere
for all nations. The procedural requirements and obligations when handling subsidiaries of
these sanctioned targets must be handled correctly and in accordance with international
standards to ensure that there is global uniformity amongst member states and accountable and
reporting institutions.