HSBC Safeguard

Safeguarding your business against financial crime.

Safeguarding your business against financial crime

Financial crime is a growing global issue. In the UK, businesses lose an estimated £14bn to fraud every year*. Today’s reality is that up-to-date information is a critical weapon for all banks in the fight to prevent criminals from accessing the financial system.

At HSBC, we are committed to fighting financial crime. As part of our work in this area we have implemented an on-going programme to update and validate the information we hold on all business customers. Having a deep understanding of each customer – what they do, where they do it, who they do it with and who benefits – is a key part of our ability to detect and deter attempts to defraud that customer, to launder money, to breach sanctions or to evade taxes.

As part of this programme, we are asking our customers to provide information about themselves and the nature of their business. We typically allow 3 months for this process to be completed for each customer. We do everything we can to explain the information we need and when we need it by – communicating with customers through letters, emails, internet banking banners and calls. It is important that these requests are responded to in a timely manner so that the information gathering process can be completed. The process is iterative, and we sometimes may need to ask for additional information as we conduct our reviews. We have made it easier for our customers to contact us by adding to our dedicated UK Call Centre team.

We would like to thank all business customers who have provided information we’ve asked for in a timely and comprehensive manner.

Where we haven’t received all the information we need, as a last resort we have sometimes had to restrict banking services. Clearly this is not our preferred outcome and we appreciate that it may cause disruption for our customers.

If your business has experienced problems with our requests, or if you have any questions about an information request you have received from us, please contact us on: 08000 30 45 16 (Open from Monday to Friday, 9am – 5pm).

When you do hear from us please do not delay in responding. We thank you for your on-going understanding and co-operation.


Yours sincerely,


Amanda Murphy

Head of Commercial Banking, HSBC UK

 

*Source: UK Fraud Cost Measurement Committee Annual Fraud Indicator 2016

What are we doing to help you stay safe?

HSBC Safeguard is a series of initiatives designed to better protect all our customers and their finances from fraud and financial crime. To do this we need to ensure the information we have about you is correct.

Over the next few months we will:
  • review all our customer accounts to check we have all the details we need
  • let you know if we need you to confirm, update or provide new information

What is financial crime?

To help answer your questions about financial crime, and why we are asking for additional information when you open your accounts with us, we have made 3 videos to help you understand financial crime, and the link between providing additional information and protection.







Get in touch

Call us on:
UK

08000 30 45 16

Lines are open from Monday to Friday, 9am – 5pm

Textphone: 0345 7125 563

From overseas, call:

+44 1226 260 878

Lines are open from Monday to Friday, 9am – 5pm


Lines are open from Monday to Friday, 9am – 5pm.

Get in touch

Call us on:
UK

08000 30 45 16

Lines are open from Monday to Friday, 9am – 5pm

Textphone: 0345 7125 563

From overseas, call:

+44 1226 260 878

Lines are open from Monday to Friday, 9am – 5pm


Lines are open from Monday to Friday, 9am – 5pm.

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