Regulatory Gaps and Reforms in South Africa’s Oversight: Political Financing, Terrorist Funding, and Cybercrime

Amira Asvat ()
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Amira Asvat: University of Johannesburg

A chapter in Embracing Technological Agility in Accounting and Business – Vol. 3, 2026, pp 107-118 from Springer

Abstract: Abstract This paper assesses South Africa’s regulatory framework in addressing the interrelated challenges of political party financing, terrorist funding, and cybercrime, highlighting its significance in safeguarding financial integrity and national security. The objective is to examine the effectiveness of key legislation—including the Political Party Funding Act (PPFA), Financial Intelligence Centre Act (FICA), and Cybercrimes Act in mitigating illicit financial flows. The persistence of regulatory gaps raises concerns about enforcement efficiency, particularly in light of South Africa’s greylisting in 2023, which underscored deficiencies in anti-money laundering (AML) and counter-terrorist financing (CFT) measures. By analysing legal and policy frameworks, this study aims to identify weaknesses, propose regulatory improvements, and align national controls with global AML and CFT standards. Using a legal and policy analysis methodology, this paper explores the effectiveness of these regulations in combating financial crimes. It includes a legislative review, a comparative analysis with international AML and CFT standards, and an evaluation of enforcement capacity. Case law analysis and empirical data from regulatory bodies provide insight into enforcement challenges. Findings reveal that weak inter-agency coordination, resource constraints, and evolving cyber threats hinder enforcement. The paper recommends stricter disclosure requirements for political financing, enhanced monitoring of digital transactions, and improved regulatory collaboration. The significance and contribution of this paper lie in its comprehensive evaluation of South Africa’s regulatory framework in addressing political party financing, terrorist funding, and cybercrime. By bridging legal analysis with policy recommendations, this paper provides a valuable resource for financial regulators and scholars studying financial crime in South Africa.

Keywords: Financial oversight; Political party financing; Enforcement mechanisms; Money laundering; Governance gaps (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-032-13388-5_8

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DOI: 10.1007/978-3-032-13388-5_8

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