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Vol 58 No 22

Published 3rd November 2017


South Africa

Snagged by the Guptas' global reach

Regulators failed to stop London-based banks laundering hundreds of millions of dollars stolen from South Africa

HSBC, one of Britain's biggest banks, has been accused by a British peer of complicity in a US$500 million money-laundering scheme organised by businesses controlled by the Gupta family, close allies of President Jacob Zuma. The accusations point to serial failures of anti-money laundering measures in Britain and the international financial system.

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