INTERNATIONAL OBLIGATIONS
Gupta fraud probe is no FBI conspiracy
The government has signed treaties and legislated obligations that are globally recognised to combat money laundering
SA is an open economy and depends on the global banking system to carry out transactions with the rest of the world. When the Federal Bureau of Investigation (FBI) and the UK’s Serious Fraud Office announced that they were investigating claims of money laundering through bank accounts and several firms, they were subscribing to legislation enacted by SA. People sympathetic to President Jacob Zuma and his friends the Guptas claim that the probe by international authorities is a conspiratorial political act, when it is patently not. It arises from established law in SA and other countries — and may be driven by those countries’ interests in protecting their institutions rather than pursuing South African political agendas. The government has signed treaties and legislated obligations that are globally recognised to combat money laundering.The FBI and the US department of justice are conducting a joint investigation into the Gupta brothers and their relatives living in the US in terms ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.