Song Bo...Lol 
HSBC closes business account allegedly used to fund pro-democracy movement
By
Dimsumdaily Hong Kong
-
10:42AM Mon November 18, 2019
1080
18th November 2019 – (Hong Kong) After civil unrest continues for over 5 months, there were many non-government organisations which crowdfunded to support the pro-democracy movement. According to sources, HSBC requested a client to close his business account in 30 days last month after he assisted in crowdfunding and receiving donations for the rallies. If the client fails to secure a new bank account this month, his own business and cash flow will be affected.
Spokesperson for HSBC expressed that as a responsible financial institution, due diligence must be conducted on the background of their clients. Once the account usage is found to be inconsistent with the description of business nature during the opening of accounts, the bank will take action to close the account.
Personal bank accounts or business accounts should not be used to raise fund as it will violate bank rules.
HSBC closes business account allegedly used to fund pro-democracy movement
By
Dimsumdaily Hong Kong
-
10:42AM Mon November 18, 2019
1080
18th November 2019 – (Hong Kong) After civil unrest continues for over 5 months, there were many non-government organisations which crowdfunded to support the pro-democracy movement. According to sources, HSBC requested a client to close his business account in 30 days last month after he assisted in crowdfunding and receiving donations for the rallies. If the client fails to secure a new bank account this month, his own business and cash flow will be affected.
Spokesperson for HSBC expressed that as a responsible financial institution, due diligence must be conducted on the background of their clients. Once the account usage is found to be inconsistent with the description of business nature during the opening of accounts, the bank will take action to close the account.
Personal bank accounts or business accounts should not be used to raise fund as it will violate bank rules.
