 These capital controls are locally referred to as "exchange controls", although the system has since 1995 moved towards surveillance — recording and reporting to the authorities of foreign currency transactions — rather than control.Capital controls have been in place in South Africa in various guises on an uninterrupted basis since the outbreak of World War II, when Great Britain and its dominions implemented the Sterling area.Following the 1960 Sharpeville massacre, South Africa experienced significant outflows of foreign exchange on the capital account of the balance of payments and instituted an additional level of capital controls, known as the Blocked Rand system.