14th December 2017
The United Kingdom’s Financial Conduct Authority has progressed with its inquiry into the involvement of British banks in facilitating alleged money laundering for a controversial South African business empire, according to Lord Peter Hain. On Tuesday, during a debate on the Sanctions and Money Laundering Bill, Lord Hain said… Read More
12th December 2017
South African President Jacob Zuma has been issued a fresh deadline to the end of January 2018, by the country’s National Prosecuting Authority (NPA), to submit arguments on why he should not be prosecuted for corruption. The 783 charges against Zuma relate to a 30 billion rand (2.20 billion dollars)… Read More
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