UK headquartered banks HSBC and Standard Chartered are under investigation by the Financial Conduct authority there, on whether they facilitated money laundering as a result of their ties to the Gupta family.
This is according to veteran anti-apartheid activist, Lord Peter Hain, who sits in the UK Parliament.
He says he is determined to root out those UK businesses that may have aided and abetted the Gupta family in any corruption.
Gupta-related developments in South Africa are being watched closely around the world, particularly in London, where a number of businesses have been accused of aiding or enabling state capture.
Lord Hain has also named international law firm Hogan Lovells as the latest business to be embroiled in allegations of corruption.
He’s accused the law firm of producing a white wash report when asked to investigate alleged wrong doing at the South African Revenue Service (SARS).
Hogan Lovells strongly denies these allegations and insists it would help with an inquiry.
Lord Hain mentions other companies that he has pointed the finger at in the past.
“Hogan Lovells are doing even as I speak exactly what Bell Pottinger did last year, what KPMG did last year, what McKinsey did last year, and the rest of them; they deny. Then as the pressure increases, they are forced to apologise. Why not get the denial out of the way now and simply apologize and then make good what is an outrageous act by them.”