17th August 2017
Companies controlled by the Gupta family, whose accounts are being closed down by Bank of Baroda, said they’re taking legal action against the lender to try and stop the termination, which comes after South Africa’s four biggest lenders cut banking services for the family that’s in business with a son… Read More
15th August 2017
Charges of corruption and abuse of position at Eskom have been laid against Mark Pamensky‚ a former board member of the electricity utility‚ after leaked Gupta emails over his alleged role in state capture. Pamensky was a director at the Gupta owned Oakbay Resources and Energy at the same time. Read More
15th August 2017
South Africa’s public prosecution service, which is investigating alleged corruption in the awarding of government contracts, has denied reports that it will not accept leaked emails as evidence against President Jacob Zuma’s allies. The allegations of influence-peddling in the so-called “State Capture” affair are deepening a divide in the ruling… Read More
11th August 2017
Global auditing firm, KPMG says that in light of all the publicly available information around the Gupta family and its many questionable dealings, it should have dropped the family’s businesses as a client long before it did so in 2016. In a statement put out on Friday (11 August), Trevor Hoole,… Read More
3rd July 2017
KPMG South Africa allegedly failed to raise alarms when businesses controlled by the Gupta family diverted the equivalent of US $3.3 million of public money. Read More
20th June 2017
India and other members of the BRICS grouping on Monday agreed to step up collaboration to combat terror funding and money laundering. Read More
19th June 2017
Parliament has ratified Rwanda’s membership of the Eastern and Southern Africa Anti-Money Laundering Group. Money laundering involves crafting the appearance that large amounts of money obtained from serious crimes, such as drug trafficking or terrorist activity, have originated from a legitimate source. Read More
7th June 2017
The Common Market for Eastern and Southern Africa (Comesa) and the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) have signed a Memorandum of Understanding to deepen collaboration in combating money laundering and terrorist financing. 10 out 18 countries in ESAAMLG are Comesa members with six… Read More
26th May 2017
Several local and international banks have been slapped with administrative fines by the South African Reserve Bank, for weak anti-money laundering and combating of financing terrorism controls. The banks include Investec, Absa, Standard Chartered, as well as Habib Overseas Bank. Overall, banks were fined a total of R46.5-million. Read More
8th May 2017
The African National Congress (ANC) has dismissed former Finance minister Trevor Manuel’s comments, accusing the ruling party of money-laundering. Manuel was delivering the keynote address at a Kader Asmal memorial lecture at the University of Cape Town. Read More