British Politician Lord Peter Hain has warned that if State Capture is not tackled sooner, it has a potential to further lead to billions of rand being laundered across the globe.
He has told the Commission of Inquiry into State Capture that international interventions are needed to curb a further occurrence of State Capture.
The South African-raised politician says the international community has a role to play in making sure that State Capture is eradicated.
“…and often as we have seen in South Africa – mechanisms are unable to curb this free flowing money laundering and international crime. What it does is that in developing countries it keeps people in poverty, this is not just something done by experts, but the bankers and experts.”
“With the assistance of the lawyers and others, it is actually robbing people of their national wealth keeping them in complete poverty so it’s a problem that has a direct impact on the issues of social justice.”
Hain says he finds it strange that those in authority in South Africa didn’t see the warning signs of State Capture, yet it was all over the media.
“It is exactly that Chair, all the warning signs were there… and they turned a blind eye to them, and now they claim they new very little about it – which frankly I don’t believe.”
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