British banks possibly 'conduits for laundered money' in South African corruption scandal

Chancellor asks for scrutiny of UK bank links to South Africa corruption inquiry

"Will the Chancellor ensure the Financial Conduct Authority, the Serious Fraud Office and the National Crime Agency investigate HSBC, Standard Chartered and Baroda Banks, which expert South African whistle-blowers believe must have been conduits for the corrupt proceeds of money stolen from their taxpayers and laundered through Dubai and Hong Kong?"

It has emerged that the Federal Bureau of Investigation (FBI) has opened an investigation into the Gupta family related to cash flows between South Africa, Dubai and America.

Standard Chartered said, "We are not able to comment on the details of client transactions, but can confirm that after an internal investigation, accounts were closed by us by early 2014".

Mr Zuma and the Guptas strongly deny wrongdoing, and say they are victims of a "politically motivated witch-hunt".

After a request from U.K. Chancellor Philip Hammond, the U.K. Financial Conduct Authority said Thursday it has been in contact with the two banks about their possible dealings with the family and "will consider carefully further responses received".

The alleged possible dealings with the Guptas or related-parties joins a long list of money-laundering scandals for the two United Kingdom banks.

South African platinum producer Royal Bafokeng Platinum said on Thursday it was dropping the services of contractor JIC Mining Services, majority by Oakbay Investments, the main company operated by the Gupta family.

It's being reported that the FBI is investigating cash flows between South African Gupta-owned companies, Dubai and a company owned by Ashish and Amol in the United States.

There has been no comment from Gupta spokesman, Gary Naidoo.

"The Guptas sought to employ their nephews in South Africa in 2013, the emails show".

Lord Hain named 27 people in the letter, in addition to companies, adding that any person or firm linked to alleged corruption in South Africa is "going to be badly contaminated".

Ex-Northern Ireland secretary Lord Hain said the chancellor had agreed the matter would be looked into.

Lord Peter Hain raised concerns British banks may have been used to move money out of South Africa illegally.

"We are taking this very seriously because we realise the consequences of not doing so for the reputation of the City of London and the UK", said the UK Minister of State for the Department for International Development, Lord Bates.

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