International banks were 'complicit' in helping the state capture project by the Gupta family.
Lord Peter Hain told the state capture inquiry on Monday November 18 2019 that banks were happy to help the Gupta family launder money as they also benefited.International banks were"complicit" in helping the state capture project by the Gupta family.
Hain laid bare how the Guptas, through accounts opened with the likes of the Bank of Baroda, allegedly laundered money across the world through the creation of shell companies. "There was increasing awareness of corruption and state capture under former president Zuma and yet these banks and international corporates continued to work with the Guptas and enable them to continue with their nefarious activities and launder money around the world.Despite the warning signs, he added, the banks allegedly turned a blind eye.To this end, he said several money transfers and loans to Gupta-linked companies made through the Bank of Baroda could not be explained.
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