What is Financial Crime?

And what does it have to do with me, or my business?

1 August 2019

At HSBC, protecting our customers’ finances is nothing new.

Many people have heard about fraud, data security, and cyber-crime. But in today’s complex economy, criminal activity can take many other forms including sanctions breaches, insider trading, terrorist financing, bribery, corruption and money laundering. These are all forms of financial crime.

For the most part, financial crime involves criminals obtaining money, services or property illegally or by deception and benefitting from the proceeds. In fact, it now accounts for 3.6% of global GDP – making crime one of the largest economies if the world.

But changes in technology and the way companies do business have affected the banking industry as a whole. So now, more than ever we need to ensure we’re protecting all our customers – wherever they are in the world.

To find out more, watch the video.

Frequently asked questions

Answers to common questions about financial crime.