How banks knowingly helped the Guptas: Peter Hain

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How banks knowingly helped the Guptas: Peter Hain

The peer tells Zondo that guilty banks should be penalised for not stopping financial irregularities

Amil Umraw and Zingisa Mvumvu

Strengthen laws against money laundering, beef up regulatory bodies, create effective extradition treaties and penalise banks that turn a blind eye to financial crimes.

These were some of the measures British peer and anti-apartheid activist Peter Hain suggested to deputy chief justice Raymond Zondo, the state capture commission chairperson, during his testimony on Monday.

Hain wants Zondo to consider adding these measures to prevent state capture and illegal money movements when he tables his inquiry’s recommendations to President Cyril Ramaphosa...

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