StanChart closed accounts linked to South Africa's Gupta family in 2014

South African President Jacob Zuma arrives to give his State Of The Nation address at the opening session of parliament in Cape Town

South African President Jacob Zuma. Thomson Reuters

HSBC Holdings PLC and Standard Chartered PLC have been asked by the United Kingdom financial regulator to review possible business with South Africa's Gupta family, becoming the latest firms to be hit by the fallout from a corruption scandal in Africa's most developed economy.

The allegations relate to an ongoing scandal in South Africa, where opposition groups and investigators are accusing the Gupta brothers of buying influence with president Jacob Zuma and making money from state contracts.

Standard Chartered closed some bank accounts linked to the Gupta family in South Africa in 2014, a spokeswoman for the bank said on Thursday.

In September, Hain wrote to the UK Chancellor of the Exchequer Philip Hammond, asking him to investigate the complicity - "whether witting or unwitting" - of UK financial institutions in corruption in South Africa.

Following this, the Chancellor contacted the Financial Conduct Authority (FCA), Serious Fraud Office (SFO) and National Crime Agency stating that the allegations are being taken "extremely seriously".

"The Guptas sought to employ their nephews in South Africa in 2013, the emails show".

Mr Zuma and the Guptas have always denied any wrongdoing.

The Gupta nephews are named as directors of Brookfield Consultants, a Houston-based company.

(Bloomberg) - The U.K. has asked financial enforcement agencies to probe possible ties between HSBC Holdings Plc and Standard Chartered Plc to South Africa's Gupta family, the Financial Times reported.

Lewis said as far as he could see from the FBI investigation, it is focused on the Gupta-family and corruption.

The Chancellor says the government recognizes that "tackling corruption requires collective worldwide action".

'Will he ensure that those banks, together with European banks, about which I have similarly written to European Commission president Juncker, track down that laundered money, return it to the South African Treasury, and supply evidence to its officials to enable the prosecution of all those connected with such corruption'.

Spokesmen for HSBC and Standard Chartered declined to comment.

Lord Peter Hain, whose letter to the Chancellor brought the incident to light, is expected to raise the matter in the House of Lords today.

The UK's Financial Conduct Authority said that it has already been in contact with the banks, and was considering their responses, according to the FT.

Latest News