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Protect your business against financial crime.

Protect your business against financial crime

Financial crime is a growing global issue and is estimated to cost the UK economy £37 billion per 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’re committed to fighting financial crime. As part of our work in this area, we’ve 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’re asking our customers to provide information about themselves and the nature of their business or organisation. We typically allow 3 months for this process to be completed for each customer. We do everything we can to explain what information we need and when we need it by – communicating with customers through letters, emails, internet banking banners and phone calls. It’s important these requests are responded to in a timely manner so 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’ve made it easier for our customers to contact us by adding to our dedicated UK Call Centre team.

We’d 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 sometimes have to restrict banking services or close an account. Clearly this is not our preferred outcome and we appreciate 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’ve received from us, please contact us on: 0800 030 4516.

When you hear from us please don’t 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: HM Treasury/Home Office - National risk assessment of money laundering and terrorist financing 2020

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.

What is financial crime and why should I be concerned about it?

What sort of additional information does HSBC need – and why?

How does information about key controllers and beneficial owners help HSBC make banking safer?

Get in touch

Call us on:
UK

0800 030 4516

Lines are open 9am to 5:30pm, Monday to Friday.

Textphone: 03457 125 563

From overseas, call:

+44 1226 260 878

Lines are open 9am to 5:30pm, Monday to Friday.


Lines are open 9am to 5:30pm, Monday to Friday.

Get in touch

Call us on:
UK

0800 030 4516

Lines are open 9am to 5:30pm, Monday to Friday.

Textphone: 03457 125 563

From overseas, call:

+44 1226 260 878

Lines are open 9am to 5:30pm, Monday to Friday.


Lines are open 9am to 5:30pm, Monday to Friday.

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