In a world that’s more connected than ever, there’s an even greater need for security, as criminals have more opportunities to misuse the financial system. Financial crime is a threat that faces businesses of all sizes and has a significant impact on the global economy.
But we need our customers’ help. Our global systems are best able to provide customers with world-class protection against financial crime when we have their most up-to-date information. So we are updating our records. We need to make sure that the transactions we carry out for customers are based on genuine requests. This means that we need up-to-date information, even from our most loyal customers, to help detect fraudsters.
Sources:
1HSBC Safeguard video
2PwC
3UK Fraud Costs Measurement Committee, Annual Fraud Indicator 2016
4PWC Global Economic Crime Survey 2016
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Please be aware that the external site policies will differ from our website terms and conditions and privacy policy. The next site will open in a new browser window or tab.