The UK has asked financial enforcement agencies to probe possible ties between HSBC Holdings and Standard Chartered to South Africa\u2019s Gupta family, the Financial Times reported.<\/p>\n
Chancellor of the Exchequer Philip Hammond said that he had passed on concerns from Peter Hain, a former Labour cabinet minister, that the London-based banks might have handled illicit funds linked to the family via Hong Kong and Dubai, the FT said.<\/p>\n
The Guptas are at the heart of a political scandal in South Africa over allegations that they used a friendship with President Jacob Zuma to influence state business. Zuma and the Guptas have denied any wrongdoing.<\/p>\n
Hain did not accuse HSBC or Standard Chartered of wrongdoing but, in a letter to Hammond, said that they should review transactions due to evidence, including material from whistle-blowers, that hundreds of millions of South African rand were laundered out of the country, according to the FT.<\/p>\n
In reply, Hammond said that he had contacted the Financial Conduct Authority, Serious Fraud Office and National Crime Agency in the U.K., the paper said.<\/p>\n
According to the FT, the FCA said it was \u201calready in contact with both banks named and will consider carefully further responses received.\u201d<\/p>\n
Spokesmen for HSBC and Standard Chartered declined to comment.<\/p>\n