HSBC closes accounts of firms linked to Guptas

London: HSBC has closed a number of accounts for front companies associated with Guptas, the South African business family of Indian origin. The move comes after a Wall Street Journal report showed how the Guptas used HSBC bank accounts in Dubai to transfer money through ‘front companies’ which had allegedly received kickbacks for the sale of Chinese locomotives in 2013. The report follows an expose by AmaBhungane Centre for Investigative Journalism based on emails leaked from Guptas’ email servers.