SA govt must get asset recovery specialists to recover stolen money - Lord Hain

Member of Britain’s House of Lords Peter Hain on Monday presented his evidence to the Zondo Commission of Inquiry into State Capture on Monday.

Hain presented a list of recommendations that he believes the South African government should adopt in order to curb corruption.

RELATED: Peter Hain details complicity of international banks in state capture

He joins Bongani Bingwa to chat about his testimony.

He says the consequences of state capture have been to undermine key institutions in South Africa.

My evidence to the commission yesterday was to focus on the international dimensions, the way that the Guptas and their allies were able to smuggle their money out of South Africa through the international financial system.

Lord Peter Hain, Member - Britain’s House of Lords

Foreign governments are also culpable though they have not been put under the spotlight, he adds.

He says every week that goes by, the Guptas are able to hide away the money they looted from asset recovery specialists, and therefore the South African government need to urgently invest in these specialists.

This money left the country through the banks, it didn't go through brown envelopes, it left a digital footprint and it can be traced. There is a trail of complicity that includes the banks, corporate and lawyers who advised the Guptas on how to create front companies so that their true identities were hidden.

Lord Peter Hain, Member - Britain’s House of Lords

Listen below to the full conversation:


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