UK: Labour demands review into London role in laundering
20 Oct 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 between US companies and individuals to the Gupta affair, McDonnell said London had become “notorious” as a centre for money-laundering.

The warning comes after the Guardian revealed that the chancellor, Philip Hammond, has asked UK authorities to look into whether HSBC and Standard Chartered were involved in transactions related to the Guptas.

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