HSBC 'ignored money laundering warning' in South Africa scandal

HSBC should be investigated for "Possible criminal complicity" in connection with corruption allegations in South Africa, a UK peer has said. Lord Peter Hain told Parliament he had asked the Treasury to refer an unnamed UK bank for investigation into possible involvement in money laundering. Lord Hain, a leading anti-apartheid campaigner who grew up in South Africa, has previously called for UK authorities to examine the role of British banks in the scandal. Regulators are looking into HSBC and Standard Chartered's roles in South Africa following a separate letter from Lord Hain in September. Lord Hain told the House of Lords on Wednesday that the latest evidence he had sent to the Treasury showed the illegal transfer of funds from South Africa made by the Guptas.

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