Several international banks enabled corruption in South Africa under former President Jacob Zuma, British lawmaker Peter Hain has said.
At an inquiry hearing, he said HSBC, Standard Chartered and India's Bank of Baroda were "directly culpable".
The inquiry is investigating claims of graft against Mr Zuma and the Gupta family. They deny any wrongdoing.
HSBC said it supported the inquiry while Standard Chartered said there was no evidence linking it to the Guptas.
No-one from the Bank of Baroda was immediately available for comment.
Speaking in Johannesburg, Lord Hain alleged that the banks were helping the Guptas to hide the source of their illicit gains through a network of banks accounts and shell companies.
"They're all up to their neck in this," said Lord Hain, a former anti-apartheid activist. "They continued because of course the corporates concerned, including the banks, were making money out of it."
Media captionJacob Zuma: I have been vilified
He blasted the companies for not applying the same "stringent measures" to all customers, and called for more co-operation between corporations and national governments to help recover any stolen money.
Lord Hain's remarks are the latest to be given to the corruption inquiry, which was launched last year.
Mr Zuma resigned as president in February 2018 after numerous allegations of corruption during his nine-year administration.
Several allegations focus on his relationship with the Gupta family, who have been accused of influencing cabinet appointments and winning lucrative state tenders through bribery. They also employed members of Mr Zuma's family.
The scandal is widely referred to as "state capture" - shorthand for a form of corruption in which businesses and politicians commandeer state assets to advance their own interests.
South African authorities raided the Guptas' family compound last year, and the family have been blacklisted by several South African banks and the US Treasury.
Mr Zuma has agreed to co-operate with the public inquiry, but has dismissed it as prejudiced.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Exotic dancer ‘The Punisher’ tells court how he discovered Diddy’s identity
4 minutes -
Burglar family jailed for striker Isak’s home raid
24 minutes -
Italy’s Meloni ready to help if Vatican agrees to Trump’s war mediation plan
31 minutes -
Trump unveils plans for ‘Golden Dome’ defence system
35 minutes -
Spain clamps down on Airbnb as tourism backlash returns for summer
51 minutes -
Dr Muhammad Dan Suleiman: The next successful coup will not be in Burkina Faso
1 hour -
Ghanaian artistes are celebrated across Africa, but is that appreciation mutual at home?
2 hours -
NPP’s gold reserve policy laid foundation for Ghana’s economic stability – Kabiru Tia
2 hours -
AMMREN commends outgoing NMEP manager for remarkable leadership in malaria elimination efforts
2 hours -
Cash in Crisis: MIASA conference highlights need to balance digital and cash payments
2 hours -
Only 20% of exiting lecturers replaced – Kofi Asare backs UTAG’s call for staffing
2 hours -
JoyNews responds to UG, UG-UTAG’s claims of unprofessional reportage over A-G report
2 hours -
High rate of youth in gambling a cause for concern – GHACOE
4 hours -
Mahama admits inheriting $8.98bn reserves from previous government
4 hours -
Financial institutions urged to support innovation, sustainability in the Agric sector
4 hours