Labour demands review into City of London role in money-laundering

Call from shadow chancellor John McDonnell comes amid continuing fallout from the Gupta scandal in South Africa

The shadow chancellor, John McDonnell, has called for an inquiry into London’s role in global money-laundering, amid concern about UK banks’ exposure to a corruption investigation into ties between South Africa’s wealthy Gupta family and President Jacob Zuma.

Speaking after it emerged that the FBI is to examine any links between US companies and individuals to the Gupta affair (£), McDonnell said London had become “notorious” as a centre for money-laundering.

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