Johannesburg, 19 February 2017 - The Competition Tribunal is taking on 17 local and international banks for allegedly manipulating the currency market. The banks are accused of collusion and price fixing dating back as far as 2007.
JOHANNESBURG - Corruption Watch wants jail time for bank officials who break the law.
The organisation&39;s director, David Lewis was speaking on eNCA&39;s Moneyline.
He said over twenty banks sent or received money to Gupta-linked companies.
" I worked for a long time in the competition authorities... But ultimately it seems to be written off as the cost of doing business. Banks have been collectively fined $200-billion over the last few years and yet they carry on doing and it&39;s the cost of doing the business. So really the only deterrent is the jail time. And I think there is very big public demand for that to happen" said Lewis.