Why does HSBC want more information about my income?

1 May 2019

Why does HSBC want more information about my income?

Information is more available and accessible than ever before. And this also makes it easier for criminals to commit fraud and other financial crimes.

Hiding their source of wealth – where their money really comes from – they pretend to be ordinary customers and launder money that they have obtained illegally.

To help prevent these crimes, we have to ask some of our customers more questions than normal about where their money comes from.

This won’t affect the vast majority of our customers. But if for instance your money comes from a source that’s not obvious to us…

Perhaps you’re associated with someone in a public role…

Maybe you have connections to a country under international sanctions…

Then unfortunately we will have to ask you a few extra questions.

To find out more, watch the video.

Frequently asked questions

Answers to common questions about financial crime.