Here are some answers to common questions about financial crime and how to keep you or your business safe from fraud, scams and data thefts.
Financial crime is unlawful activity where money, services or property are obtained illegally or by deception. It includes fraud, bribery, corruption, money laundering, terrorist financing, sanctions breaches, tax evasion and insider trading. Techniques such as identity theft and scams are often used in many common financial crimes.
Identity theft is the process of stealing pieces of personal information – such as date of birth, address details, or bank account details – which can then be used to present a fake version of the true person. For more information take a look at how we’re working to protect you online Fraud Guide.
Credit card fraud is a wide-ranging term for theft and fraud committed using or involving a payment card, such as a credit card or debit card, as a fraudulent source of funds in a transaction. The purpose may be to obtain goods without paying, or to obtain unauthorized funds from an account. For more information about how to keep your card safe take a look at our guide Card security.
A person’s identity may be stolen, or cloned, in many ways using for instance their date of birth, address or employment details, bank account details, or information that represents them online such as a Facebook page.
Fraud is the criminal use of deception for financial or personal gain. Fraud can take many forms such as credit card fraud, invoice fraud, accounting fraud and scams. For more information take a look at our fraud guide Fraud Guide.
Money laundering is the concealment of the origins of illegally obtained money. It is the process by which criminals disguise where their money has originally come from (eg. drugs trafficking) and make it appear to have come from a legitimate source. For more information see Money Laundering.
Sanctions are political trade embargoes and restrictions put in place against a country, individual or entity with the aim of restoring international peace and security. Banks are responsible for upholding sanctions imposed by governments, the United Nations or the European Union. When sanctions are not consistently enforced, for instance a bank allows a transaction to take place with a sanctioned entity, it is called a sanctions breach.
For more information see What Are Economic Sanctions?
For information about HSBC Group sanction policy statement please click here HSBC Group Sanctions Policy Statement.
Cybercrime is any unlawful activity that involves a computer and a network. It may include hacking, online scams, fraud, identity theft, data theft, attacks on computer systems and illegal or prohibited online content.
For more information take a look at our fraud guide Fraud Guide.
Tax evasion is the illegal non-payment or underpayment of tax.
Insider trading is the trading of a public company’s stock or other securities, by individuals with access to confidential or non-public information.
If you suspect that someone has used your name or personal information for financial gain – that your identity may have been stolen – then contact your bank, check your statements, and report your suspicions to the police.
If you are an HSBC customer then can call the number on the back of your card, tweet #HSBC Customer Services, or search ‘lost or stolen cards’ on your local HSBC site and call the helpline number for assistance as soon as possible. Card Security.