October 19, 2017 / 8:54 AM / 2 years ago

StanChart closed accounts linked to South Africa's Gupta family in 2014

LONDON (Reuters) - Standard Chartered closed some bank accounts linked to the Gupta family in South Africa in 2014, a spokeswoman for the bank said on Thursday.

“We are not able to comment on the details of client transactions, but can confirm that after an internal investigation, accounts were closed by us by early in 2014,” the spokeswoman said by email.

The Gupta family, a trio of Indian-born businessmen, are under scrutiny for their close ties to South African President Jacob Zuma.

Britain’s Financial Conduct Authority separately said it is in contact with StanChart and HSBC following reports in British newspapers that Britain’s finance minister has asked regulators to investigate the lenders’ possible ties to the Gupta family and Zuma.

“The FCA is already in contact with both banks named and will consider carefully further responses received,” the regulator said.

The FBI in the U.S. is also investigating the matter.

HSBC declined to comment.

Reporting By Lawrence White; Editing by Rachel Armstrong

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below