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UK government worries over fallout of state corruption in SA

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The UK government on Thursday said it was taking allegations of state-linked corruption in South Africa very seriously, as possible links to British banks could sully the reputation of the UK’s financial industry.

The House of Lords, the UK Parliament’s upper chamber, was debating money laundering and state corruption in SA.

“We are taking this very seriously because we realise the consequences of not doing so for the reputation of the City of London and the UK,” said the UK Minister of State for the Department for International Development, Lord Bates.

Anti-apartheid campaigner Lord Peter Hain had asked Bates how the UK government was preventing money laundering through British banks by “families and business people linked to the government of South Africa”.

“We realise that London, as the largest financial centre, is a target which can be used for this purpose [corruption], but we are determined to root it out,” said Bates in his response.

“That is why, when we are provided with information – as when the noble Lord, correctly, wrote to the chancellor setting out that detail – immediate action is taken to refer it to the relevant authorities to ensure that they can pursue the matter and that justice is done, and is seen to be done,” he said.

The UK government on Thursday said it was taking allegations of state-linked corruption in South Africa very seriously, as possible links to British banks could sully the reputation of the UK’s financial industry.

The House of Lords, the UK Parliament’s upper chamber, was debating money laundering and state corruption in SA.

“We are taking this very seriously because we realise the consequences of not doing so for the reputation of the City of London and the UK,” said the UK Minister of State for the Department for International Development, Lord Bates.

Anti-apartheid campaigner Lord Peter Hain had asked Bates how the UK government was preventing money laundering through British banks by “families and business people linked to the government of South Africa”.

“We realise that London, as the largest financial centre, is a target which can be used for this purpose [corruption], but we are determined to root it out,” said Bates in his response.

“That is why, when we are provided with information – as when the noble Lord, correctly, wrote to the chancellor setting out that detail – immediate action is taken to refer it to the relevant authorities to ensure that they can pursue the matter and that justice is done, and is seen to be done,” he said.

[Source: News24]
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