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In 2012, HSBC was fined 1.9 billion $ for laundering cartel money in Latin America. Since then to show how 'good boys' they have become, they have launched HSBC Safeguard - Know your customer prog.
Google HSBC Safeguard, it says HSBC aims to 'review all our accounts to check we have all the details we need etc.
A few years back, they sent requests to 'select' UK customers and there was much unrest. The requests were very intrusive and customers who did not comply had their accounts frozen.
I had the impression they have 'eased' the prog in UK, but looking at the website I think they intend
to eventually review all their UK customers.
I have friends worldwide who have told me they have to complete these very intrusive forms every 2 years.0 -
They are only intrusive if you have something to hide.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.2
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