Three former bankers have been arrested in London as part of an investigation into $2 billion of odious loans to Mozambique. This is a major step forward in our campaign to hold those responsible to account, and stop the debt being forced on people in Mozambique.
Bribing public officials in other countries is a criminal offence under the UK Bribery Act. However, it is the US which has insisted on the arrests, not the UK, despite the fact the loans came from banks in London.
The UK should be enforcing the 2010 Bribery Act. The Serious Fraud Office and/or Financial Conduct Authority should now fully investigate and hold to account the individuals responsible, and Credit Suisse and VTB.