11th December 2017
eNCA The Progressive Professionals Forum (PPF) opened a docket of inquiry for criminal charges against embattled furniture giant Steinhoff in Stellenbosch on Saturday. The organisation said it would also write to Public Protector Busisiwe Mkhwebane asking her to initiate a comprehensive inquiry into asset management companies sub-contracted by the Public… Read More
27th November 2017
By Amabhungane and Scorpio, Daily Maverick KPMG green-lighted three Gupta deals that bore multiple hallmarks of money laundering. In these, suspicious foreign entities paid millions for shares in dormant local shell companies. Our investigations suggest that at least two of the transactions were a cover to bring dirty money home. Read More
13th November 2017
By Rob Davies, Guardian HSBC has revealed that it closed accounts linked to South Africa’s Gupta family corruption investigation, admitting for the first time concerns about its potential ties to the snowballing scandal. The bank said it had also flagged up its worries to the financial crime expert who has… Read More
10th November 2017
The developments around audit firm KPMG following its implication in state capture has stressed the need to introduce reforms in the auditing and accounting professions, said Deputy Reserve Bank Governor Francois Groepe. Groepe delivered an address at the Financial Stability Forum at the South African Reserve Bank (SARB) on Thursday… Read More
3rd November 2017
The SA Revenue Service (Sars) said on Friday it was considering taking criminal and civil action against investigative journalist and author Jacques Pauw and the Sunday Times newspaper following an exposé about President Jacob Zuma’s income and tax affairs. This comes after last weekend’s Sunday Times’ lead story, “Gangster republic:… Read More
2nd November 2017
President Jacob Zuma has denied that he received any undisclosed money from private individuals or companies during his term as president. This was Zuma’s answer to an urgent question put on the order paper by DA leader Mmusi Miamane for Thursday’s question session in the National Assembly, relating to allegations… Read More
1st November 2017
HSBC is being investigated by the British Serious Fraud Office and other agencies for its ‘complicit role’ in an alleged money laundering network operated by wealthy connections of South African President Jacob Zuma. The alleged role of the bank is also being examined by the National Crime Agency and… Read More
1st November 2017
Gupta-owned and linked companies were turned away from Postbank, after they requested opening a bank account with the South African Post Office’s (SAPO’s) bank. This was revealed in written Parliamentary papers on Tuesday. “No member of the Gupta family approached the Postbank to open up an account,” said Telecommunications… Read More
20th October 2017
The shadow chancellor, John McDonnell, has called for an inquiry into London’s role in global money-laundering, amid concern about UK banks’ exposure to a corruption investigation into ties between South Africa’s wealthy Gupta family and President Jacob Zuma. Speaking after it emerged that the FBI is to examine any links… Read More
19th October 2017
BBC UK banks may have been used to launder money stolen from South Africa, a former cabinet minister has alleged in a letter to Chancellor Philip Hammond. Lord Peter Hain said a South African whistle-blower had indicated the banks “maybe inadvertently have been conduits for the corrupt proceeds of money”. Read More