Britain's Serious Fraud Office and financial regulators are to review whether banks based in the UK are linked to a corruption scandal in South Africa.
Lord Peter Hain who was a leading campaigner in South Africa's fight against apartheid, says sources in the country have told him HSBC and Standard Chartered banks may have been used to move laundered funds of up to half a billion US dollars.
Lord Hain says his concerns relate to South African President Jacob Zuma and a wealthy business family, the Guptas, who have been plagued with allegations of corruption in South Africa and who both strenuously deny any allegations of wrongdoing.
IN: "I was pleased ..."
OUT: …to South Africa.
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GENERIC: http://www.fsnradionews.com/feeds/1019Hain-Hain1a.mp3
Lord Hain says he's not alleging wrong-doing on the part of the banks, but questions must be answered.
IN: "I'm not suggesting…"
OUT: …face justice.
DUR: 22 secs
GENERIC: http://www.fsnradionews.com/feeds/1019Hain-Hain2a.mp3