Protecting you from fraud and financial crime
In today’s increasingly connected world, it’s more important than ever to ensure your security – especially when it comes to banking. That’s why we’re introducing HSBC Safeguard to customer due diligence procedures: a series of initiatives designed to provide better protection for all of our customers from fraud and financial crime across our global processes and systems. They involve strengthening our ability to combat money laundering and the evasion of sanctions, as these are often the driver behind many financial crimes. In addition, HSBC Globally will no longer provide certain products (for example travellers’ cheques) which are not safe enough way for our customers to convert their money.
Information is key to protection
Our systems and processes rely on us having the most up-to-date information about all of our customers. Soon you will be asked to do one or all of the following:
- confirm or update your existing personal or business details
- provide some new information which may include original documents
We understand that this may cause some inconvenience, and we apologise in advance for this, but we will work with you to ensure the process is as simple and straightforward as possible.
The requirement is in accordance with the Article 4.9 of Business Terms and Conditions for Current Accounts of Legal Entities.