London — HSBC Holdings is shutting accounts associated with the Gupta family as it assesses its exposure to the scandal gripping SA. The bank is conducting a wide-ranging review of any possible involvement in suspicious transactions, with the assistance of external investigators, people with knowledge of the matter said. HSBC first closed accounts held by companies linked to the Gupta family in 2014 after internal compliance procedures picked up transactions that couldn’t be explained as legitimate business, the people said, asking not to be identified discussing a matter that isn’t public. Banks are required to report any transactions they suspect may be related to illicit activities. “Any exposure that we had to the Guptas’ companies was inadvertent,” HSBC said in an e-mailed statement to Bloomberg News on Monday. “For the past couple of years, we have been in the process of identifying what there is and shutting it down.” In October, UK regulators said they were looking into whet...

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