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

Alleged ties between wealthy Gupta family and President Zuma prompt concern HSBC and others could be exposed to illicit funds

The chancellor has asked UK enforcement agencies to look into whether British banking groups HSBC and Standard Chartered are linked to South Africa’s corruption inquiry into alleged ties between the wealthy Gupta family and President Jacob Zuma.

According to letters seen by the Guardian, Philip Hammond has passed concerns raised by former Labour cabinet minister Peter Hain to the Serious Fraud Office (SFO), National Crime Agency (NCA) and the Financial Conduct Authority (FCA).

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