HSBC and Standard Chartered dragged into South Africa corruption case

Royal Bafokeng Platinum is the latest company to cut ties with Gupta-linked companies

Royal Bafokeng Platinum is the latest company to cut ties with Gupta-linked companies

Lewis said as far as he could see from the FBI investigation, it is focused on the Gupta-family and corruption.

The FBI's probe is said to focus on United States citizens Ashish and Amol Gupta, the nephews of Atul and Ajay Gupta.

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".

FT said in a separate report that Chancellor of the Exchequer Philip Hammond said that he had passed on concerns from Peter Hain, a former Labour cabinet minister, that two London-based banks - HSBC and Standard Chartered - might have handled illicit funds linked to the family via Hong Kong and Dubai.

HSBC declined to comment.

Following this, the Chancellor contacted the Financial Conduct Authority (FCA), Serious Fraud Office (SFO) and National Crime Agency stating that the allegations are being taken "extremely seriously".

The Guptas and Zuma have denied any wrongdoing.

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The three Indian-born Gupta brothers are at the heart of South Africa's biggest post-apartheid outcries over their alleged use of a friendship with Mr Zuma to control state businesses.

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".

Lord Hain told the Press Association: "I have written to the Chancellor asking for British authorities to investigate British financial institutions that may have been used as conduits for money laundering".

At the center of the allegations are South Africa's President Jacob Zuma and a wealthy business family, the Guptas.

'We are concerned about the allegations in South Africa and the British High Commissioner is monitoring the issue closely, ' he told the House.

South African banks like Standard Bank and Nedbank terminated all their business with Gupta-owned companies in April 2016.

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