Former Labour cabinet minister accuses HSBC of "possible criminal complicity" linked to Gupta Scandal

Lord Peter Hain, a leading anti-apartheid campaigner who grew up in South Africa, has informed parliament that he had asked the UK Treasury to investigate an unnamed UK bank for "possible criminal complicity" regarding corruption allegations in South Africa.

In a letter seen by the BBC, Lord Hain reportedly referenced HSBC, saying the lender had ignored a warning about large transfers of cash, while also citing evidence of transactions out of South Africa involving the bank.

The controversy was understood to be in connection with the close relationship between South African president Jacob Zuma and the wealthy Gupta family.

Both sides denied any wrongdoing.

Regulators were apparently already looking into HSBC and Standard Chartered's roles in South Africa following another letter from Lord Hain in September, the BBC said.