Source of wealth video transcript
00.00.02- 00.00.08 – Why does HSBC require information about my income and source of wealth?
00.00.09- 00.00.14 – Todays world is more connected than ever with information more available and accessible than ever before,
00.00.15- 00.00.20 – but this also makes it easier for criminals to commit fraud and other financial crimes,
00.00.21- 00.00.30 – 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.
00.00.31- 00.00.36 – To help prevent these crimes we have to ask some of our customers more questions than normal about where their money comes from.
00.00.37- 00.00.44 – This won’t affect the vast majority of our customers but if for instants your money comes from a source that’s not obvious to us,
00.00.45- 00.00.51 – or perhaps your associated with someone in a public role, or you have connections to a country under international sanctions,
00.00.52- 00.00.55 - then unfortunately we will have to ask you a few extra questions.
00.00.56- 00.01.02 - We don’t mean to be intrusive, but we want to help keep you money safe by keeping criminals out of the banking system,
00.01.03- 00.01.07 so we may also have to ask you for documents as proof of where your money comes from.
00.01.08- 00.01.16 - Please be patient as we ask you these questions, we have to be thorough to check that everything matches up, but we will make the process as easy as possible for you.
00.01.17- 00.01.22 – And we will keep your data private and safe, it won’t be used for marketing purposes.
00.01.23- 00.01.26 – Thank you for helping us make banking safe and secure for all of our customers
00.01.27- 00.01.35 – HSBC safeguarding our customers and their finances from fraud and financial crime.