These are the documents cited in Unaccountable 00007: HSBC- The World’s Oldest Cartel. This instalment of the Unaccountable series is the second of five profiles that are based on the Open Secrets and Shadow World Investigations’ investigative report, The Enablers: The bankers, accountants and lawyers that cashed in on state capture. In Profile 00007- The World’s Oldest Cartel, Open Secrets examines the role of a key global enabler, HSBC bank, in the state capture network.
If Transnet was a golden goose for the Gupta family and their associates, then global banking giant HSBC played the role of tending their illicit nest eggs. This week Open Secrets examines the role of a key global enabler in the State Capture network. As shown in The Enablers investigative report, it takes more than a few corrupt politicians to capture the state. It requires a global financial machinery – and HSBC was an important bank in this network.