Protecting you from fraud and financial crime

Protecting you from fraud and financial crime

In today's increasingly connected world, it's more important than ever to ensure your security especially when it comes to banking. That's why we're introducing HSBC Safeguard - a series of initiatives designed to provide better protection for all of our customers from fraud and financial crime across our global processes and systems.

Information is key to protection

Our systems and processes rely on us having the most up-to-date information about all of our customers. You may be contacted by HSBC to do one or all of the following:

1. Confirm or update your existing personal or business details
2. Provide new information which may include original documents

We apologise in advance that this may cause some inconvenience, but we will work with you to ensure the process is as simple and straightforward as possible.

What we will do with your information

We will use this information solely to protect our customers and ourselves against financial crime. We take our obligation to protect your data very seriously, so all the information you provide will be subject to the HSBC Group's highest security standards. The intent is to ensure we have the most up-to-date records and the information will NOT be used by any third parties for marketing purposes.

What you need to do next

You do not need to do anything at the moment. In order to manage the process, we will be contacting customers individually on a phased approach to let you know when you need to update your information.

Frequently Asked Questions

What is financial crime?

Fraud and financial crimes are forms of theft. They tend to involve money or property that are gained illegally, and used in a deceptive or illegal manner to gain a benefit from the proceeds. In today's complex economy, financial crimes can take many forms including money laundering, sanctions breaches, fraud, tax evasion, terrorist financing, bribery and corruption. Therefore, it is even more important for us to be vigilant in protecting our customers wherever they are in the world.

What is HSBC Safeguard?

HSBC Safeguard is a series of initiatives to increase the protection we provide our customers against fraud and financial crime across our global systems and processes. It involves strengthening our ability to combat money laundering and the evasion of sanctions, as these are often the drivers behind many financial crimes. In addition, we will be reviewing our products from time to time to ensure that we do not offer products that do not provide sufficient protection for our customers, such as travellers' cheques.

What are sanctions?

Sanctions are policy tools which national governments and organisations such as the United Nations and European Union use to constrain and deter perceived threats to their security, or to conform international conduct to recognised international standards. Sanctions help to stop crimes like terrorism, drug trafficking and arms dealing by imposing restrictions on the business that banks can do with specific people, corporations or countries. The names of these are clearly listed on resources like the Office of Foreign Assets Control (OFAC) sanctions list.

Why is financial crime suddenly of concern to the bank?

At HSBC, addressing financial crime globally has long been one of our priorities. It is our duty to ensure that you can bank with us safely, securely and confidently. Improving the way we share and manage customer information will help us continue to fight effectively against such risks and prevent criminals from penetrating the banking system.

What does financial crime have to do with you or your business?

As the world becomes increasingly connected and technologically advanced, there are unfortunately greater opportunities for the misuse of the financial system. A key defence against money laundering is to prevent accounts being opened in false identities. We also sometimes need to verify the origin of the funds as part of our ongoing efforts to track our customers' legitimate funds. Criminals will try to appear to be law-abiding citizens or businesses and therefore we need to request documentary evidence from all of our customers in order to fully protect them and their accounts.

How will this information protect you or your business?

Our global systems and processes work by sharing data and customer information across borders in order to deter and detect financial crime. Even if you bank in only one country, we are still committed locally to protect your account as financial crime is a global operation.

By confirming your details and making sure that all the information we hold about you is up-to-date, it reduces the risks of your accounts being misused and in turn, we will be able to verify that we are acting on genuine instructions from you.

Contact Us

Personal Banking

   Write to us

   Hotline Numbers

   Call us at 1-800-0252 in Brunei or (673)2 252 252 from overseas

Commercial Banking

Please contact your Relationship Manager